Astar Network, a platform for multichain smart contracts, formally announces the launching of its native ASTR token on Huobi Japan. Huobi is now the third Japanese cryptocurrency exchange to list ASTR following Bitbank and GMO Coin. The ASTR token has been added to the “Green List” of the Japan Virtual and Crypto Assets Exchange Association (JVCEA) as a result of this listing.
To hasten the listing process on Japanese exchanges and increase cryptocurrency acceptance in Japan, the JVCEA, a coalition of 31 cryptocurrency exchanges, created the Green List. The JVCEA member exchanges previously had to go through a cumbersome vetting procedure before listing any cryptocurrency. The Green List assets are exempt from screening since they have previously undergone thorough examination by three or more member exchanges.
Sota Watanabe, Founder of Astar Network, said, “Given that Astar has a significant presence in Japan and a lot of enterprises are entering Web3 with Astar, joining the Green List is a huge step not only for us but also for Japanese companies. It makes it much faster to list ASTR on other Japanese exchanges. We continue to work with regulators to utilize ASTR in Japan faster.”
The ASTR token was added to the Green List after meeting all four JVCEA requirements:
- Handled by at least three member exchanges
- Handled for more than six months by at least one exchange
- Cryptocurrencies for which the JVCEA hasn’t established any incidental requirements for handling
- Additional cryptocurrency assets for which the Association sees no reason why it would be improper to put them on this list
Starting on April 12th, customers on Huobi Japan will be able to purchase ASTR using the Japanese Yen. ASTR may be transferred to any supported wallet by traders and investors purchasing it on Huobi Japan.
For developers and businesses interested in researching the Japanese Web3 market, Astar Network is the go-to blockchain. Despite Japan’s rigorous listing requirements, it is also the first public blockchain from the nation to be listed there. The Japanese government has recognized Astar’s native token, ASTR, as a cryptocurrency, not a security.
