In a recent announcement, the EOS Network Foundation (ENF), currently supporting the development of EOS, revealed that their token has received whitelist approval from the Japan Virtual and Crypto Assets Exchange Association.
This means that the token can now be traded with the Japanese Yen on regulated exchanges. ENF also emphasized that the token trading will be activated in September on an exchange named BitTrade.
Yves La Rose, the CEO of ENF, stated in a press release that penetrating the Asian market is crucial for EOS. He highlighted that this region has always been a significant pillar for EOS due to its large token holder base. La Rose added, “We strongly believe the next Web3 wave will come in the form of blockchain-based gaming and GameFi. Asia is clearly leading the charge in that space.”
The CEO also mentioned that Japan is a developing market with an established legal framework and government support. La Rose believes that there’s an “incredible opportunity” for countries like Japan to dominate the market as it brings clarity and supervision. He also noted that many gaming intellectual properties in Japan have “ripened for tokenization.”
Meanwhile, Japanese Prime Minister Fumio Kishida recently reaffirmed the country’s stance on Web3. In a significant speech on July 25th, Kishida highlighted the potential of Web3 in driving societal change and transforming the Internet. The Prime Minister also described Web3 as a part of the “new form of capitalism.”