What Makes Japan Second Largest Bitcoin Market, Potentially First
Having overtaken the US, Japan has become the world’s second Bitcoin market, after China. Will the Empire of the Sun move ahead of all to completely embrace digital assets? Japan has recently overtaken the United States to become the world's second largest Bitcoin market. This development may come as a surprise to many considering the decline that the Japanese economy has had over the last two decades. But will the Empire of the Sun move ahead of all to completely embrace digital assets? A Galapagos environment. Japan is an unusual case even among developed nations. The insular nature of....
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For now, it remains unclear why this shift is happening at this point in time. Bitcoin markets continue to evolve over time, which creates an intriguing paradigm shift. China remains the largest market for Bitcoin trading, but the number two position is up for grabs. For some time, the USD market held this place firmly, yet they have been overthrown by Japan. Over the past few days, there has been a significant growth in the Japanese market, catapulting it to the second place in terms of volume. It is rather surprising to see the USD market lose ground compared to other regions. More....
Japan and South Korea, the third and fourth largest bitcoin exchange markets, have seen premium prices ever since the launch of local bitcoin exchanges and markets. Analysts suggest that such arbitrage opportunities exist in Asia’s largest bitcoin exchange markets due to the two countries’ strict Anti-Money Laundering (AML) policies. Ever since the launch of major bitcoin exchange backed by some of the country’s largest multi-billion dollar conglomerates, the South Korean bitcoin exchange market has demonstrated a premium rate of around 15 percent in comparison to other major markets such....
Opposite to the downtrends of crypto prices, web 3 developments continue to make headlines almost daily. Following the UAE’s initiative to make the Emirates a metaverse and web 3 technology centre, Japan officially enters the web 3 zone. Fukuoka, the second-largest port city in Japan, has secured a partnership with the Astar Japan Lab to […]
There is an increasing interest for blockchain technology in Japan, as NRI and Japan Exchange Group have started a new distributed ledgers trial. What makes this announcement even more appealing is how other major financial institutions are part of this collaboration as well, and the securities industry is one area where the blockchain can make a significant impact. NRI and Japan Exchange Blockchain Study. Many financial institutions around the world are taking a keen interest in blockchain technology, as there are a lot of opportunities and possibilities waiting to be explored. Nomura....
GMO has a very wide reach in Japan, as they are the largest credit card payment processor to date. Japan continues to make significant strides in the Bitcoin department. With the trading volume on the rise recently, it becomes more important for users to have access to a proper Bitcoin wallet. GMO, one of Japan’s largest internet companies, is launching their own cryptocurrency wallet service. This is a major validation of Bitcoin as a currency, and heralds bigger and better things to come for cryptocurrency in Japan.. Up until this point, Japan has been somewhat quiet on the Bitcoin....