Enjin Coin Becomes First Gaming Cryptocurrency Whitelisted for Use in Japan

Enjin Coin (ENJ) has become the first gaming cryptocurrency to be whitelisted for use in Japan, after receiving approval from the Japan Virtual Currency Exchange Association (JVCEA), the country's self-regulatory body for cryptocurrency exchanges. The approval allows ENJ to be listed on Japan's Coincheck exchange, enabling users to purchase ENJ with Japanese yen.

ENJ is a store of value token that is locked into non-fungible tokens (NFTs) created by users within the Enjin gaming and app ecosystem. These NFTs can be traded, swapped, and integrated cross-platform, creating new in-app economies. The listing on Coincheck marks the first time a gaming-related cryptocurrency has been listed on a Japanese exchange, according to the Financial Services Agency (FSA), Japan's regulatory body.

Enjin entered the Japanese market in 2019 through a partnership with Tokyo-based blockchain accelerator HashPort. The two companies collaborated to seek regulatory approval for ENJ's listing on exchanges in Japan. The approval and subsequent listing on Coincheck are seen as significant milestones for Enjin and the adoption of its blockchain platform in Japan.

As of now, ENJ is trading at $0.30, showing a 27% increase in the past 24 hours and a 71% increase for the week, according to CoinMarketCap.

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