Author: Lingdian Night Talk
Translator: Langford
Bitgate, a Japanese cryptocurrency exchange operator, changed its name to [Himalaya Japan Co., Ltd.] on August 1, and its online exchange name will also be changed to Himalaya Exchange Japan. The new website is: https://www.j-himalaya. co.jp
Image source: j-himalaya.co.jp
Image source: Himalayan Big Meow
Founded in 2017, Bitgate is a cryptocurrency exchange operator registered with the Kanto Regional Finance Bureau No. 00012. It is one of the first platforms to be licensed by Japan’s financial regulator, the Financial Services Agency (FSA). Currently, Bitgate’s tradable cryptocurrencies include 6 cryptocurrencies including Bitcoin, Ripple, Ethereum, Stellar, Bitcoin Cash, and Ethereum Classic, which can be deposited through 6 well-known chain convenience stores such as 711 in Japan.
Given the fact Himalaya Exchange is the world’s first crypto exchange to integrate with native exchange coin Himalaya Coin (HCN), digital stablecoin Himalaya Dollar (HDO) and payment app Himalaya Pay (HPAY), after this acquisition Himalaya Exchange is believed to be available for trading in Japan soon. For the global strategic layout, its digital stable currency Himalaya Dollar ( HDO) will also usher in a more favorable development space in Japan.
Japan’s parliament passed a bill on June 3 that clarified the legal status of stablecoins, defining them as digital currencies in essence, becoming the first country to grant strict protections to stablecoin investors. Under the new law, stablecoins must be pegged to Japanese yen or other fiat currencies and guarantee holders the right to redeem them at face value. This means stablecoins can only be issued by licensed banks, registered transfer agents and trust companies. Since Japanese crypto exchanges have not yet provided stablecoin trading services, Himalaya Japan plans to acquire more financial institutions in Japan, obtain more licenses, and perhaps cooperate with a number of Japanese banks to launch a yen-based stablecoin “HiYen” .
Japan has always been at the forefront of the digital currency ecosystem, and its central bank digital currency, the Digital Yen (CBDC), is also in intensive preparations. Kazushige Kamiyama, head of the Bank of Japan’s payment and settlement system department, said that the Bank of Japan has started the second phase of CBDC trials in April, which will last about a year, but given the progress of many developed countries in the CBDC field, the future global settlement system Significant changes are likely, and Japan needs to make sure it doesn’t fall behind. The official name change of Himalaya Japan in Japan, and the launch of the digital currencies “HiYen” and “HCN”, which represent the world’s highest credit and value, will help Japan to accelerate the opening of the door to digital currency.
