By June, residents of Japan for the first time ever will be able to start buying and selling Bitcoin Satoshi’s Vision (BSV) after it is listed on Huobi Japan.
BSV is the native cryptocurrency of Bitcoin Satoshi's Vision (BSV) and is sometimes called Bitcoin SV.
Huobi Japan is one of Japan’s most popular cryptocurrency exchanges and part of the Huobi Group, a leading global digital asset financial service provider.
The BSV Blockchain Association disclosed BSV’s listing on Huobi on Friday in a press statement.
Upon its listing, BSV will become the 15th cryptocurrency listed on Huobi Japan.
“BSV joins a short, highly selective list of cryptocurrencies available on Huobi and in the country as a whole as the Financial Services Agency of Japan (FSA) is a tightly controlled regulator of blockchain tokens,” the association said in the statement.
Patrick Prinz, the Managing Director (MD) of the BSV Blockchain Association, noted that the listing of Huobi shows the direction Japan is going to explore the possibilities and solutions that blockchain technology can provide to businesses as well as citizens of the country.
According to the statement, Prinz stated this while speaking at the inaugural BSV Global Blockchain Convention in Dubai, the United Arab Emirates.
“We've been working nonstop with businesses and officials across the globe, including Japan, to educate and inform just how transformative BSV can be,” the MD added.
The Road to Listing
According to the association, the listing of BSV on Huobi Japan took a long journey.
The group said the Financial Services Agency (FSA), Japan’s financial market regulator, started vetting the digital asset in March 2021.
The vetting process included intensive risk analysis and sponsorship requirements from a regulated exchange, it further said.
The association explained, “To get a sense of just how strict the country's evaluation system is, one need to look no further than Huobi Global, which lists over 400 cryptocurrencies worldwide available for buying, selling or trading.
“Alternatively, Huobi's Japanese platform lists just 14, with BSV becoming only the 15th cryptocurrency to be listed.”
The association believes that the approval from FSA will make room for other Japan-based exchanges to also offer BSV on their platforms, too.
Meanwhile, Huobi recently launched a $100 million Lunar New Year campaign to encourage its users to explore the possibilities available in the Metaverse.
