Cardano (ADA) sees Japan listing after passing rigorous regulatory crypto reviews

Cardano (THERE ARE) just became one of the rare tokens that managed to gain admission to listing on crypto exchanges in Japan.

Big boost for Cardano’s legitimacy

According to Sebastien Guillemot, CTO of dcSpark, a blockchain company that builds software products on Cardano, Japan has draconian rules for listing on crypto exchanges and the importance of regulatory approval cannot be overestimated.

“Japan has extremely strict rules for listing crypto exchanges. Only a small number of tokens can be listed in Japan and ADA is now on that list, ”said dcSpark CTO, whose crypto startup is currently working on a decentralized application browser for Cardano called“ Flint ”and“ Milkomeda ”that will simplify will use smart contracts.

Cardano was finally listed in Japan! 🇯🇵 $ ADA

Japan has extremely strict rules for listing crypto exchanges.

Only a small number of tokens can be listed in Japan, and ADA is on that list now! https://t.co/n2oxPHKa36

– Sebastien Guillemot (@SebastienGllmt) August 3, 2021

“While you haven’t been following this, I would say this is comparable to Coinbase listing news for the JP community,” added Guillemot, pointing out the importance of the news.

@ ListADA420 Although you haven’t been following this one, I’d say this is comparable to Coinbase listing news for the JP community

– Sebastien Guillemot (@SebastienGllmt) August 3, 2021

Guillemot compared the admission in Japan to ADA’s listing on Coinbase in March, as it not only strengthens Cardano’s legitimacy but also opens up an entirely new market for ADA, the fifth largest cryptocurrency by market cap.

While the network is successfully undergoing a major upgrade

With the conclusion of the crucial update phase, called Alonzo, which focuses on the introduction of smart contract functionality, ADA will enter a whole new playing field.

Recently Cardano’s founder Charles Hoskinson bullied the announcement of a definitive rollout date for the middle of the month.

News of its listing on Japanese stock exchanges has so far not resulted in a significant spike in the price of ADA, which continues to hover around $ 1.36 and has only seen a slight 1% increase over the past 24 hours.

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