On Jan 19, Blockchain-based Enjin Coin (ENJ) turned the primary gaming cryptocurrency to be legally licensed for commerce by the Japanese Digital Foreign money Trade Affiliation (JVCEA).
This coincided with a sudden 71% improve to the coin’s greenback worth which occurred inside simply 9 hours, and noticed the ENJ coin worth bounce from $0.236340, as much as a 3-year excessive of $0.406356.
ENJ/USD. Supply: CoinMarketCap.com
“Enjin Coin has been accredited by the JVCEA and can be listed on Coincheck change, making it the primary gaming token licensed to be used in Japan,” mentioned the official Enjin announcement from Jan. 19.
As of Jan. 26, Enjin Coin will turn into the primary gaming token listed on Coincheck, and one in all 15 digital currencies in whole, together with the likes of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and extra. ENJ can be purchasable with JPY, and tradeable in opposition to BTC.
Enjin’s in-road to the Japanese market was helped alongside by Hashport Accelerator. Seihaku Yoshida, CEO of HashPort, mentioned:
“Enjin made a daring dedication coming into the Japanese market in 2019, decided to develop their enterprise within the house no matter market situations. After greater than a 12 months of due diligence, the approval and itemizing of Enjin Coin on Coincheck is a crucial milestone for Enjin and adoption of its blockchain platform in Japan.”
Maxim Blagov, Enjin CEO, mentioned the corporate hoped to benefit from establishing store in one of many busiest gaming markets on this planet, and aimed to profit from the nation’s tradition of technological innovation:
“From Tremendous Mario to Pokémon and Last Fantasy, Japan is dwelling to pioneering video games that maintain an enduring place in popular culture. Japan’s tradition of innovation is immediately aligned with Enjin’s. We imagine among the world’s finest blockchain video games will come from the Japanese gaming trade, and we can be there to assist them leverage this highly effective know-how to the fullest.”
Enjin Coin was first introduced in 2017, and launched a mainnet the next 12 months. In 2019, Enjin made headlines after it was introduced Enjin Coin would ship as one of many functions native to the then newly launched Samsung Galaxy S10.