A New Crypto Asset Exchange Has Launched in Japan

A New Crypto Asset Exchange Has Launched in Japan

DMM Bitcoin is a new homegrown crypto exchange that DMM Group (the Japanese conglomerate) unveiled into the market during their second market venture.

DMM’s exchange order book was formally launched and opened on January 11 this year, after successful mining operations that were carried out in September 2017. The potential customer base that DMM Bitcoin possesses, which encompasses DMM clients and other outside interests, is about 27 mln.

The crypto exchange has put 7 cryptocurrencies on offer; Ethereum, Bitcoin, Bitcoin cash, Ripple, NEM, Litecoin and Ethereum classic and 14 others. The exchange project is essential as Japan is currently positioning itself as the new global trading hub for the regulated cryptocurrency.

Several promotional benefits for early signups clients- such as a fee-free operation and a start credit of 1000 yen, are set to accompany the company’s exchange announcement. About its trading, for the prices to reflect the exchange’s volume, Thinking Crypto (an English-language podcast) anticipates that it may take around a week.

The crypto environment in Japan

With the licensing scheme introduction that interests many, Japan’s economy has benefited big over the last 6 months from various cryptocurrency exchanges.

Experts also attest to the contribution of bitcoin to the consumer culture. For instance, Nomura analysts numerically suggest that Japan’s GDP benefited from 0.3% addition from Bitcoin.