Aug 04, 2022 04:00AM ET
By: AnalysisWatch
Dogecoin (DOGE) is dancing with the geishas in Japan for pure joy, as memecoin is accepted by one of the most established crypto exchanges in the Asian region.
Bitbank, a cryptocurrency platform based in Tokyo, Japan, has been around since 2014. The cryptocurrency veteran announced the inclusion of Dogecoin (DOGE) and Polkadot (DOT) in an official blog post this morning.
Celebration has no trading fees.
In addition, the Japanese cryptocurrency platform wants to celebrate the occasion with commission-free trading of Dogecoin (DOGE) and Polkadot (DOT) against the Japanese yen. The commission-free trading discount is eligible for creator orders that add liquidity and taker orders that remove liquidity. Normal commissions for these trading activities are 0.02% and +0.12%, respectively.
Japan has a love for Dogecoin (DOGE).
As a center of innovation, it is not surprising that Japan is the first to introduce commission-free Dogecoin (DOGE) trading. However, it should be noted that Japan has had complex rules and regulations on cryptocurrencies for a long time, and since the Japan Crypto and Virtual Asset Exchange Association (JVCEA) released a green list of tokens that don't have to go through a lengthy legal procedure before ending up on cryptocurrency exchanges, Japan is trying to catch up with the rest of the cryptocurrency world.
The meme coin, inspired by the Japanese dog breed, Dogecoin (DOGE), has only been accepted by the first Japanese crypto exchange this March. BTCBOX, which is also based in Tokyo, added DOGE and has since seen a spike in trading volume. In addition, FTX's Japan-based subsidiary also added Dogecoin (DOGE) last month.
Other tokens on Japan's green list include the major cryptoassets: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Stellar Lumens (XLM). Japanese crypto traders also recognize the importance of Polkadot (DOT), as it can create "parachains through bonding," a crucial feature that allows a user to interoperate between different blockchains.