EBC Foundation, the company behind the blockchain Fintech project EBCoin, officially announced that they will launch a new cryptocurrency trading exchange based in Japan.
Today EBC Foundation, the company behind the blockchain Fintech project EBCoin, officially announced that they will launch a new cryptocurrency trading exchange based in Japan. They also announced negotiations to list their EBCoin currency (Symbol: EBC) on local Japanese exchanges BitFlyer, GMO and Zaif, soon after the conclusion of their crowd sale on February 13.
EBC Foundation originally planned to establish their exchange, KRPEX, in Korea. However, due to the rising regulatory uncertainty faced by digital currencies in Korea, the team set their sights on Japan as the preferred location. In contrast with Korea, Japan has been providing clear guidelines for establishing cryptocurrency exchanges since last year.
The group will work with their Japanese partner, Integro Welfare, who will facilitate the entire process to register and launch KRPEX. Of course, the new exchange will also list EBC Foundation’s own EBCoin currency against various other currency trading pairs.
The Japanese Yen is currently the top Bitcoin trading currency in the world, accounting for 56.2% of the total trading volume of Bitcoin against fiat currency. The Japanese government in April 2017 introduced legislation to officially recognize cryptocurrency as a payment method equivalent to fiat currencies such as the, Yen or the US Dollar.
Jason Kim, CEO of EBC Foundation said,
“Japan is, without a doubt, considered the global industry leader when it comes to cryptocurrency. We expect the listing of EBCoin on Japanese exchanges to bring us much closer to our goal of making EBC one of the major cryptocurrencies in the market.”
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