The Japan Virtual Currency Exchange Association, a self-regulatory entity, has given ENJ its formal approval.

Enjin coin (ENJ) became the first gaming cryptocurrency approved in Japan. This is after meeting the stringent requirements of the country’s financial regulator.

Likewise, the Japan Virtual Currency Exchange Association (JVCEA), which oversees cryptocurrency exchanges, has approved ENJ.

In fact, the price of the ENJ coin rose from $0.236340 to $0.406356 in just nine hours. It reached a three-year high.

Coincheck Listing

Japanese residents will be able to acquire ENJ starting on January 26 using Coincheck, which will accept yen. Moreover, in total, 15 digital currencies, including Enjin, will be accessible for purchase in Japanese yen. It will also be available for trading against bitcoin (BTC).

Therefore, it has recognize as one of Japan’s most significant crypto-currency trading platforms. It recognized by the Financial Services Agency of Japan (FSA).

As a result, the Financial Services Agency of Japan has designated it as one of Japan’s most significant cryptocurrency trading platforms. Consequently, they ranked it among the country’s top five (FSA).

How Enjin Started

HashPort, a blockchain accelerator based in Tokyo, Enjin, the parent company of ENJ. Through it, they joined the Japanese video gaming business in early 2019. Moreover, users of Enjin have developed a non-fungible value store (NFTs).

HashPort CEO is Seihaku Yoshida. According to him, the clearance and listing of Enjin Coin on Coincheck marks a watershed moment in the cryptocurrency industry in Japan.

Additionally, ENJ is currently trading at $0.30, representing a 27 percent increase in the previous 24 hours. It also showed a 71 percent increase for the week.

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