EOS token jumps 9% after re-listing in Japan
EOS token jumps 9% after re-listing in Japan
The EOS token surged 9% after news of its approval by the Japan Virtual Currency Exchange Association (JVCEA).
The EOS Network Foundation achieved significant progress and recognition when the EOS token received JVCEA whitelist approval. The EOS token will now be able to be traded on regulated crypto exchanges in Japan against the yen, Coingape reported.
The token's approval resulted in a noticeable jump in its value, which amounted to about 9%. EOS is now trading at $0.630323.
The JVCEA approval makes EOS available to a wider audience of users in Japan, as well as developers and investors.
In a few days, EOS will start trading on exchanges in Japan. EOS will first launch on BitTrade, a regulated cryptocurrency exchange licensed by Japan's Financial Services Agency (FSA).
Guided by Japan's strict regulatory framework and the Payment Services Act, the JVCEA and FSA closely monitor crypto service providers through mandatory pre-screening of new digital assets. The recognition of EOS Network as compliant with these regulations reaffirms the company's commitment to transparency, security, and innovation.
Commenting on the company's achievement, Yves La Rose, CEO of EOS Network Foundation, said, "Securing regulatory approval from the JVCEA is a monumental achievement for EOS, affirming our steadfast commitment to compliance".
EOS is already enjoying increasing popularity in Japan. This is also supported by the successful expansion of the Upland metaverse on the EOS platform. As a result, EOS has strengthened its reputation among blockchain enthusiasts and developers alike.
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