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Cardano (ADA) to Start Trading on Japan's Bitbank Exchange

Thu, 09/29/2022 - 06:03
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Alex Dovbnya
Yet another Japanese exchange is on track to add support for the Cardano (ADA) cryptocurrency
Cardano (ADA) to Start Trading on Japan's Bitbank Exchange
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Tokyo-based cryptocurrency trading platform Bitbank has confirmed that the listing of the Cardano (ADA) cryptocurrency is going to take place soon, according to a Thursday announcement. 

The ADA/JPY pair will become available for trading on the exchange in early October, the announcement says. 

As reported by U.Today, Bitbank also added support for Dogecoin (DOGE) and Polkadot (DOT) in early August. 

Earlier this week, Switzerland-based cryptocurrency asset management service Swissborg listed the ADA token. 

Last August, Bitpoint became the first Japanese cryptocurrency to add support for Cardano's native cryptocurrency. Prior to that, Japanese cryptocurrency investors were able to trade the token only on foreign exchanges of the likes of Binance. Bitpoint Pro, the professional arm of the exchange, added support for Cardano in early February.        

"Japanese Ethereum" 

Cardano, which recently celebrates its fifth anniversary, was commonly referred to as "Japanese Ethereum" during its early days. This was due to the fact that the Cardano initial coin offering (ICO) was conducted with a main focus on the Japanese market. In fact, it has been estimated that a whopping 90% of ADA's ICO buyers were Japanese.

Last October, Japanese tax collecting agencies reportedly started investigating tax-dodging ADA traders who allegedly failed to pay millions by refusing to declare their profits.       

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.