Shiba Inu Breaks into Elite List of Approved Cryptocurrencies in Japan
Laser Digital Japan, a digital arm of one of Japan's largest investment holding companies, has received regulatory approval to operate in the country. This marks a significant milestone for Shiba Inu (SHIB), which is now one of six approved cryptocurrencies on the platform. SHIB's inclusion was made possible due to its presence on the Japan Virtual and Crypto Assets Exchange Association's (JVCEA) 'Green List', a list of vetted tokens that local platforms are permitted to list through a simplified procedure.
The regulatory approval is significant, as it comes after four years without a new crypto exchange license being issued in Japan. Laser Digital Japan will provide wholesale liquidity to local crypto platforms before opening trading access to corporations and investment funds.
This development is seen as a major step forward for SHIB's global reach, which has been driven by its retail adoption across Japan earlier this year. In April, e-commerce giant Rakuten opened token trading to its 44-million-user ecosystem, while top marketplace Mercari rolled out SHIB trading to its 24 million active users.