HBARs received a listing on CoinTrade. This is a tremendous accomplishment, given that it occurred in Japan, where listing and regulatory acceptance standards are pretty strict.
It began with Blade Labs and Mercury declaring their merger, which was mutually advantageous. Blade Labs, on the other hand, is the absolute best provider of wallet frameworks for Hedera. Moreover, Mercury is a company that operates a licensed cryptocurrency exchange in Japan called CoinTrade. Due to this merger, they will be able to expedite enterprise acceptance of the Hedera network. In addition, Nomura Holdings serves as a governing council member for this enterprise-level Web3 technology.
In this situation, Blade Labs will be helping out Mercury in terms of developing the wallet framework with regard to their HBAR staking service product, which will be delivered shortly. Meanwhile, with the formalities for listing and acceptance of HBARs in Japan completed successfully, the door is now open for accelerating enterprise acceptance in Japan. Blade Labs will begin the process of onboarding Japanese companies and their connected users to Web3 as part of its plan.
Recently, enterprise acceptance of Web3 technology has been rapidly increasing in Japan. This is because of the dedicated push being applied by the regulators to offer legislative transparency regarding businesses running in Japan. Incidentally, it happens to be Japan, the very first and foremost country to have accepted Bitcoin as a legal payment option in 2017. Since then, the government has been encouraging the use of cryptocurrencies and blockchain technology.
It has given birth to the creation of self-regulatory systems for cryptocurrency exchanges and a method of issuing licenses to exchanges. There is also the factor of building the Virtual Currency Exchange Association to work out a taxation policy on cryptocurrency trading. Recently, there has been news about stablecoin getting legal standing. The future will see matters regarding NFTs and DAOs. According to a survey by the Japanese Ministry of Economy, Trade and Industry, more than 77% of the country’s organizations are aware of cryptocurrency, and more than 20% of them have used it.
According to Sami Mian, Co-Founder and CEO of Blade Labs, they are pleased that Mercury is assisting organizations in finding appropriate methods for connecting with HBAR, and they will also take this opportunity to assist Mercury in terms of Wallet framework.
The Hedera network gets its Wallet framework from Blade Labs, which is the market leader in this area. It aims to make it possible for the next generation of users to conveniently shift between Web2 and web3 functioning, with the help of its frictionless onboarding, along with simplified incorporations and safe payment methods. Its final landmark product happens to be the Blade Wallet.