Enjin Coin surges 71% after turning into first regulatory accepted gaming token in Japan

On Jan 19, Blockchain-based Enjin Coin (ENJ) grew to become the first gaming cryptocurrency to be legally licensed for commerce by the Japanese Digital Foreign money Change Affiliation, or 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 soar from $0.236340, as much as a 3-year excessive of $0.406356.

ENJ/USD. Supply: CoinMarketCap.com

“Enjin Coin has been accepted by the JVCEA and will probably be listed on Coincheck trade, 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 develop into the primary gaming token listed on Coincheck, and one in every of 15 digital currencies in complete, together with the likes of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and extra. ENJ will probably 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 circumstances. After greater than a yr of due diligence, the approval and itemizing of Enjin Coin on Coincheck is a vital milestone for Enjin and adoption of its blockchain platform in Japan.”

Maxim Blagov, Enjin CEO, mentioned the corporate hoped to benefit from organising 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 Closing Fantasy, Japan is house to pioneering video games that maintain an enduring place in popular culture. Japan’s tradition of innovation is instantly aligned with Enjin’s. We imagine among the world’s finest blockchain video games will come from the Japanese gaming business, and we will probably be there to assist them leverage this highly effective expertise to the fullest.”

Enjin Coin was first introduced in 2017, and launched a mainnet the next yr. In 2019, Enjin made headlines after it was announced Enjin Coin would ship as one of many purposes native to the then newly launched Samsung Galaxy S10.