Zaif Exchange, a Japanese cryptocurrency exchange, has announced that it has added another currency, XEM, into its trading platform. XEM, the cryptocurrency of the NEM blockchain platform, has experienced a significant rise in its value in the last two weeks. Currently the XEM market cap is over 100 million USD. The NEM blockchain technology has a huge following in Japan, thanks to Zaif CEO, Takao Asayama has been officially assigned as Director of NEM Japan. He shall represent NEM’s presence in Japan.
CEO of Dragonfly Fintech, core member of the NEM team, and advisor to the Blockchain Collaboration Consortium in Japan, Lon Wong said: “It is timely that we can engage someone in Japan to spearhead the development and promotion of the NEM blockchain technology. Japan seems quick to jump onto this technology ahead of the rest of the world, although this solution was mooted and developed in the USA and Europe. Given Takao Asayama’s commitment and involvement, we are confident that he will be able to take NEM to the net level in Japan.”
Zaif Exchange is one of Japan’s main exchanges. Currently, the Zaif exchange trades only Bitcoin and Monacoin, but will soon include the XEM/JPY currency pair. The XEM/BTC pair will follow in the next couple of weeks. Zaif additionally offers support for auto-reserve service which will be ready in about a month. Customers in Japan can buy XEM automatically using the dollar cost averaging method.
NEM is a 2.0 blockchain platform with some features that are unique to NEM, including NEM Mosaics and the multi-signature feature. The NEM Mosaics are unique tokens or assets that can be created by an entity to be used for its application, e.g., game points or an asset to represent a currency or another cryptocurrency such as bitcoin.
Tech Bureau Corp., the parent company of the Zaif Exchange, developed Mijin, a private blockchain solution that uses the NEM blockchain technology. Its next release, Catapult, a private blockchain solution, will see a substantial improvement in performance and throughput compared to Mijin. When completed, Catapult will be contributed to the NEM open source project, as well as deploying it into the NEM public blockchain. NEM’s Catapult applies a private/public chain model.
Takao Asayama, CEO of Tech Bureau and Director of NEM Japan, remarked: “The project to fusion Tech Bureau and NEM into one big community is a continuing challenge for us all. However, NEM has grown its market cap by 5,000% in last 6 months since Tech Bureau started working on mijin with the 3 NEM core developers. I am proud to say that number is one of the indicators which symbolizes our success. Now I am responsible for the Japan chapter as a director and excited to see that NEM has already started making a certain volume of buzz here. I am excited to launch the new common Catapult core this summer.”