XTZ is now added to bitFlyer, the largest exchange in the exclusive market of Japan

XTZ is now added to bitFlyer, the largest exchange in the exclusive market of Japan

By Allen Walters | Publish0x posts | 8 Dec 2020

Being the largest exchange in Japan, bitFlyer only has 12 cryptocurrencies listed. BTC, ETH, BAT, LTC, BCH, XRP, NEM, ETC, MONA LISK, XLM and now XTZ. The reason they have listed only 12 coins, is the fact that Japanese regulations are very strict. Before they can be traded, cryptocurrencies must be whitelisted according to Japanese regulations. Regulations go even further: whitelisting is also a requirement for cryptocurrencies to be allowed to be used in applications.
XTZ is the native token used in smartcontracts and to pay for transactions on the Tezos blockchain. And XTZ is now officially whitelisted in Japan. This opened the door for bitFLyer to list XTZ on their exchange. It also allows any platform or company in Japan to integrate Tezos.

Being whitelisted in Japan is not easy to pull off. Most of the requests to whitelist a project are rejected. Hence the small number of cryptocurrencies available on Japanese exchanges. This means that this is a valuable step for worldwide adoption of Tezos. The whitelisting and the listing on bitFlyer are the results of a collaboration between Tezos Japan, Tezos Commons and TZ APAC. These are two of many organizations that work to grow the Tezos ecosystem and to encourage adoption.
Tezos is a decentralized project and it is sometimes hard to apprehend the magnitude of the world wide ecosystem and all organizations that work with Tezos. There are several groups that work without funding, but the Tezos Foundation is funding quite a lot of organizations as can be seen in the last biannual report. 

A total of 17 organizations received $6.8 million in grants from the Tezos Foundation: New Vector Limited, The Norn Community, The Reason Association, Tezos Brazil, Tezos China, Tezos Commons, Tezos Gulf Technologies, Tezos Hub GmbH, Tezos India, Tezos Israel, Tezos Japan, Tezos Korea, Tezos Ukraine, Tezos West Africa, Tezos.help, TQ Tezos, TZ APAC Pte. Ltd.

Tezos Commons
Tezos Commons is a North American nonprofit foundation dedicated to organizing grassroots community interests. Tezos Commons provides programs for community building, education, promotion, and collaborative open-source software initiatives. Founded in 2018, Tezos Commons strives to support the ideas, individuals, and organizations dedicated to building the digital commonwealth.

TZ APAC Pte. Ltd. is a team based in Singapore focusing on adoption of the Tezos blockchain across the Asia-Pacific region, starting from India in the western side of the continent and sweeping across to Korea in the northeast. By working directly with governments, enterprises, and developers to build apps and infrastructure around innovative use cases on Tezos, the team is focused on projects enabling mass adoption within the region. A core goal for TZ APAC is to identify, source, and engage local teams that can contribute to the development of the Tezos ecosystem.


New to Tezos? Read this full introduction to Tezos.

Here you can read more about the Status of the Tezos ecosystem. (Latest news, developments and growth of the adoption rate and on-chain statistics)

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Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt

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