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.       

Dogecoin and Polkadot have been gaining global attention. In a blog post published on August 3, Japanese crypto exchange Bitbank announced the addition of support for Polkadot (DOT) and Dogecoin (DOGE).

Customers of the Tokyo-based exchange may now trade a total of 18 cryptocurrencies. According to the blog post, Bitbank’s bitcoin lending business will also support the two aforementioned coins.

To foster fintech developments in the nation, the Japanese Financial Services Agency (FSA) certified Bitbank and 10 other businesses as registered crypto exchange operators back in October 2017.

Dogecoin was listed by FTX Japan in May

In conjunction with Japanese financial holding company Sumitomo Mitsui Trust Holdings, Bitbank established a custody company named Japan Digital Asset Trust (JADAT) in May.

Last month, the cryptocurrency behemoth’s local affiliate in Japan, FTX Japan, gained support for Dogecoin.

The Shiba Inu-inspired meme coin gained acceptance from BTCBOX in March, making it the first authorized cryptocurrency exchange to do so.

To keep up with other trading platforms across the world, Nikkei reported earlier this year that Japanese cryptocurrency exchanges had begun the process of streamlining listings.

Bitcoin (BTC), XRP, Ethereum (ETH), Stellar (XLM), and a few other well-known altcoins are included on the green list of tokens that have been authorized by the Japan Virtual and Crypto Asset Exchange Association (JVCEA) and will no longer be subject to extra screening processes.

Dogecoin was created with the intention of being a joke. Shiba Inu-themed DOGE has gained popularity online since its introduction in 2013. The cryptocurrency gained popularity in the mainstream as Elon Musk began to talk about it. Since then, every time Elon tweets about DOGE, the meme currency has seen some brief rises.

Dogecoin’s development has been slower than that of the Shiba Inu. In order to refute the claim, Dogecoin has revealed its redesigned website.

Dogecoin (DOGE) is dancing with geishas in Japan out of pure joy, as the memecoin gets accepted by one of the most established crypto exchanges in the Asian region. Bitbank, a crypto platform located in Tokyo, Japan has been around since 2014. The crypto veteran announced the inclusion of (DOGE) and (DOT) in an official blog post this morning.

#bitbank is pleased to announce that Polkadot (DOT) and Dogecoin (DOGE) have been newly released today.Along with this release, we’ll start accepting applications for Polkadot (DOT) and Dogecoin (DOGE) for “Lending for Interest” as well.https://t.co/daQaCGcBXk

— ビットバンク bitbank, inc. (@bitbank_inc) August 3, 2022

Zero Trading Fee for Celebration

Moreover, the Japanese crypto platform wants to celebrate the occasion with no-commission trading of Dogecoin (DOGE) & Polkadot (DOT) against the Japanese Yen. The zero fee trading discount is eligible for maker orders that add liquidity and taker orders, which remove liquidity. The normal fees for such trading activities are -0.02% and +0.12% respectively.

Japan’s Got Love for Dogecoin (DOGE)

As a hub of innovation, it’s no surprise that Japan is the first to introduce fee-free Dogecoin (DOGE) trading. However, it should be noted that Japan had complex rules and regulations on crypto for a long time, and ever since the Japan Virtual and Crypto asset Exchange Association (JVCEA) released a green list of tokens that don’t have to go through a long legal procedure before ending up on crypto exchanges, Japan is trying to catch up with the rest of the crypto world.

The Japanese dog breed inspired meme coin Dogecoin (DOGE) has only been accepted by the first Japanese crypto exchange this March. BTCBOX, which is also based in Tokyo, added DOGE and has seen a spike in trading volume ever since. What’s more, the FTX subsidiary in Japan also added Dogecoin (DOGE) just last month.

Other tokens in Japan’s green list include the top crypto asset (BTC), (ETH), (XRP) and (XLM). The Japanese crypto traders also acknowledge the importance of Polkadot (DOT), as it can create ‘parachains through bonding’, a crucial feature that lets a user interoperate between different blockchains.

However, it seems that the Japanese crypto enthusiasts won’t be fully content unless DOGE’s rival, (SHIB), is added to the top crypto platforms of Japan. The SHIB Army in Japan created a petition 7 days ago. As the competition between Shiba Inu (SHIB) and Dogecoin (DOGE) intensifies, it will be exciting to see if Bitbank hears SHIB Army’s strong voice.

Day 7 Petition Requesting Japanese Exchanges To List #SHIB Home Of Shiba Inu Yesterday @Shibtoken announced the name of Shiba Inu Games #ShibaEternity Wen #SHIB @bitbank_inc ?@kuro_9696_9696 @SHIBjpn @Blue_escape77 @SeYXDwfD95uuFbj #ShibArmyJapan pic.twitter.com/pPTilKnKDe

— cheggy (@cheggy19) August 2, 2022

On the Flipside

• Crypto.com Earn program gets rid of both Dogecoin (DOGE) & Shiba Inu (SHIB)
• Gangster DOGE: the dog-themed coin is used in serious crime, research reveals
• Elon Musk gets spanked with an enormous lawsuit for building DOGE pyramid

Find out why Elon ‘The Dogefather’ Musk is not selling his DOGE anytime soon

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