Partnership Update | OKCoinJapan to Become an IOST Servi Node & Promote GameFi and Metaverse in IOST
Vote for the OKCoinJapan node now and enjoy 4%-15% annualized returns!
November 19, 2021, OKCoin Japan Exchange officially becomes a member of the IOST Node Ecosystem with a Servi Node status as the next step to strengthen the partnership with IOST. OKCoin Japan will also become a strategic partner of IOST in Japan at the same time.
OKCoinJapan is the first global exchange that has gotten the green light from the Financial Services Agency of Japan through an independent application. OKCoin has YEN trading pairs listed and a FIAT on-ramp service, which is well received by Japanese users. OKCoinJapan’s rising popularity and influence in the Japanese market is a big factor in attracting a significant number of votes, hence raising the voting ratio and amount on the IOST network.
Since its inception, IOST has given great significance to the Japanese market and has reached numerous partnerships with top-tier Japanese exchanges, development teams, and government agencies. With the help of OKCoin Japan, we aim to promote further the implementation of blockchain technology in the Japanese market, on top of the significant achievements in NFT, GameFi, and Metaverse fields that we have already reached, and to continue increasing the influence of IOST in the Japanese crypto community. By working closely with local projects, we believe that we can bring more benefits to the community and a healthier and more diversified ecosystem.
In the future, both parties shall leverage our unique resources and cooperate with more top-tier blockchain companies/projects in Japan to actively deploy more NFT and GameFi on IOST. We aim to bring more Metaverse projects with rich content, ecosystem, incentives, and excellent playability to the IOST ecosystem.
About OKCoin Japan
In March 2020, OKCoin Japan submitted an independent application, successfully passed the various audits of the FSA, and officially obtained a compliance license. With this, OKCoin Japan became the first and only digital asset exchange recognized by the FSA of Japan through independent application among the world’s leading exchanges.
OKCoin Japan is committed to establishing a compliant and operational trading platform that complies with the Japanese regulations and meets the relevant legal requirements, including:
- The settlement of funds in Japan,
- The guidelines issued by the FSA,
- The industry’s rules formulated by the Japan Cryptocurrencies Trading Platforms Association.
Obtaining the license was not the only requirement to achieve. OKCoin Japan’s team has continuously improved its business plans and processes following the regulatory requirements from the FSA. At the same time, they had improved safety and operational efficiency in all aspects and strictly implemented measures such as complete KYC of the clients’ background and funds, trust preservation of client assets, and real-time monitoring of transactions and capital flows.
Offering spot trading services is only the first step for OKCoin Japan to provide compliant services. In the future, it will further apply for various licenses from the FSA to provide users with various financial services, including derivatives trading, digital asset management, and corporate financing.
About IOST
There are only 38 compliant digital assets as of now in the Japanese market, bringing IOST one of them. IOST is OKCoin Japan’s 9th compliant asset with a yen trading pair. This fact shows that IOST has achieved remarkable progress in compliance in the global market and proves that investors highly recognize IOST in the strictly regulated Japanese market.
High fees and slower transaction times on the Ethereum network have left the door open for new solutions to emerge, and IOST is one such project that has been gaining traction since its mainnet launch in 2019.
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all. For this, the concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than Ethereum, EOS, and every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability to roll out a better, innovative product and reflective of our true desire to be the best in the sphere.
Being one of the public chain leaders in terms of adoption, performance, and utility, IOST remains committed to our mission to unleash the power of blockchain. IOST currently has the ever-expanding 500,000 community members in over 20 countries, over 400 nodes, a top staking economy, symbiotic relationships with corporations dotted worldwide.
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