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Following
ADA Sony Group's cryptocurrency exchange S.BLOX launches Cardano and Midnight tokens in Japan
Sony Group's cryptocurrency exchange S.BLOX has begun trading Cardano (ADA) and Midnight tokens (NIGHT) in Japan, an important milestone for both assets. S.BLOX was acquired by Sony Chain Technologies in August 2023 and launched Cardano trading on August 24, expanding its asset selection and providing time-limited rewards to users who participate in new online token transactions.
Cardano and Midnight tokens make their debut in S.BLOX
S.BLOX confirmed in a recent social media post that its users can now trade Cardano. The platform also announced a celebration event where participating customers will receive ADA tokens worth up to 10,000 yen. At the same time, S.BLOX also launched the Midnight token NIGHT, marking the first time the token has appeared on the Japanese exchange. Midnight is a privacy-focused sidechain protocol that aims to enhance data protection and confidentiality in decentralized applications by leveraging zero-knowledge cryptography technology.
(Small Dictionary: Midnight is a sidechain protocol that provides enhanced privacy and data protection for decentralized applications on the Cardano network. By using zero-knowledge proof, Midnight can implement confidential contracts and transactions.)
To celebrate its launch, S.BLOX also launched another event where users have the opportunity to receive NIGHT tokens worth up to 14,000 yen. S.BLOX emphasized in his post that there are currently no other exchanges in Japan that handle NIGHT transactions, highlighting its unique position in the local cryptocurrency field.
Milestone launch in Japan
Cardano founder Charles Hoskinson talked about this in a recent live broadcast. He described the launch of NIGHT by S.BLOX as a milestone achievement because the process of approving tokens in Japan is often lengthy. The founders of Cardano pointed out the importance of the launch of these tokens to the Japanese market, emphasizing that S.BLOX was the first domestic exchange to launch NIGHT, and observed that due to the regulatory requirements of the Financial Services Agency of Japan, Japan's approval of tokens often takes quite a long time. Hoskinson also cited the ADA approval experience as an example to illustrate the complex obstacles cryptocurrency projects face when entering the Japanese market. He commented on the rigorous review process and the relatively limited number of tokens available to Japanese investors through regulated exchanges.
Event details and competitive landscape
These two events make S.BLOX one of the first exchanges in Japan to implement such an incentive structure for new tokens to launch. The introduction of ADA and NIGHT expands the diversity of assets supported by the platform and gives Japanese cryptocurrency users a wider range of options in a highly regulated trading environment.
Overview of token information: The first trading day of Cardano (ADA) is August 24, and the maximum reward for the event is 10,000 yen. Whether it is the first listing in Japan: No; the first trading day of Midnight (NIGHT) is August 24, and the maximum reward for the event is 14,000 yen. Whether it is the first listing in Japan: Yes.
As a subsidiary of Sony Group, S.BLOX continues to seek wider adoption and user participation in Japan's fast-growing cryptocurrency market by offering selected tokens and time-limited rewards.
