The renowned Japanese cryptocurrency exchange, Zaif, has made a significant move. On August 16th, the platform added the KLAY token to its roster of supported digital assets. This strategic decision comes in the wake of BITPoint Japan’s initiative to introduce KLAY trading back in August 2022.

As a result, Zaif now stands as the second trading platform in Japan to facilitate the trading of the KLAY token.

Incorporating KLAY onto its platform, Zaif opens doors for traders to engage with the token through the employment of the Japanese yen and Bitcoin (BTC). The inclusion of KLAY pushes the total count of tokens available on Zaif to 21, further enriching its diverse selection of cryptocurrencies.

KLAY’s Route to the Green List Status

KLAY’s path to securing the esteemed status of being on the “Green List” of the Japan Virtual and Crypto Assets Exchange Association (JVCEA) involves a specific process. This process mandates obtaining an additional listing on a Japanese cryptocurrency trading platform.

The Green List distinction brings the advantage of avoiding customized approval processes on different exchanges. According to JVCEA’s guidelines, a virtual asset needs to appear on a minimum of three member exchanges. Additionally, it must demonstrate a trading history of more than six months on one of these chosen platforms.

Currently, the Green List holds 25 virtual assets, as of August 8th. This list includes major cryptocurrencies such as BTC, Ether (ETH), and Bitcoin Cash (BCH).

Concurrently, Zaif is in discussions with MARBLEX, a blockchain subsidiary of South Korean gaming giant Netmarble. The aim of these talks is to list MBX, the native token of MARBLEX, on the Japanese exchange by October.

KLAY is the native token of the Klaytn blockchain. It originates from GroundX, a blockchain-focused arm of the esteemed South Korean tech entity, Kakao.

Kakao is renowned for its widely utilized messaging app, KakaoTalk. Additionally, Kakao has been expanding its influence in Japan through its subsidiary, Kakao Piccoma. This subsidiary administers an online comics platform known as Piccoma.

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