Sony Group Corporation’s crypto exchange S.BLOX has begun trading Cardano (ADA) and Midnight’s token (NIGHT) in Japan, marking a significant step for both assets. S.BLOX, a company acquired by Sony On-Chain Technologies Inc. in August 2023, introduced Cardano trading on August 24, expanding its selection and offering limited-time rewards for users engaging with the new listings.
Cardano and Midnight tokens debut on S.BLOX
S.BLOX confirmed in a recent X post that Cardano trading is now available for its users. The platform also announced a celebratory campaign, allowing customers to earn up to 10,000 yen worth of ADA by participating in the promotion.
At the same time, S.BLOX listed Midnight’s token, NIGHT, marking its first appearance on a Japanese exchange. Midnight is a privacy-focused sidechain protocol designed to enhance data protection and confidentiality in decentralized applications by leveraging zero-knowledge cryptography.
Mini dictionary: Midnight, a sidechain protocol built to provide enhanced privacy and data protection for decentralized applications on the Cardano network. By utilizing zero-knowledge proofs, Midnight enables the execution of confidential contracts and transactions.
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AAPLTo mark the launch, S.BLOX introduced an additional campaign, giving users the opportunity to receive up to 14,000 yen worth of NIGHT tokens. S.BLOX emphasized in its post that no other domestic exchange in Japan currently handles NIGHT, underlining its unique position in the local crypto landscape.
Milestone listings for the Japanese market
Charles Hoskinson, the founder of Cardano, addressed the news during a recent livestream. He described S.BLOX’s addition of NIGHT as a landmark achievement, given the typically lengthy process required to approve tokens in Japan.
Cardano’s founder noted the significance of these listings for the Japanese market, highlighting that S.BLOX is the first domestic exchange to list NIGHT and observing that token approvals in Japan often take considerable time due to the regulatory requirements from the Japanese Financial Services Agency (JFSA).
Hoskinson drew attention to Cardano’s own experience with gaining approval, using ADA’s integration as an example of the complex hurdles crypto projects face when entering the Japanese market. He commented on the rigorous assessment and the relatively limited number of tokens available to Japanese investors through regulated exchanges.
Promotional details and competitive landscape
The dual campaign offers have positioned S.BLOX as one of the first exchanges in Japan to implement such incentive structures for the launch of new tokens. The introduction of ADA and NIGHT expands the diversity of supported assets and presents Japanese crypto users with broader choices within a highly regulated trading environment.
| Token | First Trading Day | Campaign Reward | First Japanese Listing? |
|---|---|---|---|
| Cardano (ADA) | August 24 | Up to 10,000 yen | No |
| Midnight (NIGHT) | August 24 | Up to 14,000 yen | Yes |
S.BLOX, operating as a subsidiary within Sony Group Corporation, continues to seek broader adoption and engagement in Japan’s fast-evolving cryptocurrency market by offering select tokens and limited-time rewards.
