Japanese cryptocurrency exchanges are always worth keeping an eye on. Although the cryptocurrency community in the country is not that big yet, the general population is warming up to Bitcoin and consorts. Coincheck, one of the largest cryptocurrency exchanges in Japan, recently added support for buying and selling Lisk.
Coincheck Solidifies Its Position
Making a name for oneself as a Japanese cryptocurrency exchange is not easy during the early days of Bitcoin adoption. Coincheck is doing a solid job so far, as they quickly become one of the largest cryptocurrency exchanges in the country. They recently added another feather to their cap by becoming the first Japanese platform to support purchasing and selling the Lisk cryptocurrency.
Users of the Coincheck platform can buy LSK using Bitcoin or Japanese Yen. Given the recent value surge the Yen has been going through, there is plenty of excitement. Coincheck provides users with a way to diversify their portfolio before the Japanese central bank attempts to devalue the Yen in the coming months.
International Coincheck users have the option to deposit funds as US Dollars, as it will be converted to JPY automatically. But there’s more coming, as Coincheck is actively working on integrating Bitcoin to buy Ethereum and DAO tokens. Up until this point that was only possible through fiat currencies.
The Japanese company continues to solidify its position as a leader in the local cryptocurrency community. They are also an active member of the Japan Blockchain Association. It is worth noting the JBA is advising the FSA on fintech regulation in the country. Given Japan’s open-minded attitude towards cryptocurrency, it looks like Coincheck can be partially thanked for those efforts.
It will be interesting to see how the cryptocurrency situation in Japan evolves over the coming months. There certainly seems to be a genuine interest in Bitcoin and other currencies. However, with no official regulation in place yet, many investors may hold off on purchasing coins for now.
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