Kraken lists LINK, OMG and BAT for Japanese users

Available information indicated that one of the world's leading cryptocurrency exchanges, Kraken, has just added support for three new tokens, including Chainlink (LINK), Basic Attention Token (BAT), and OMG (OMG), for its Japanese customers - here there quotation of tokens in real time.

The 3 new announcements of Kraken

In a January 12 blog post, the exchange revealed that Kraken Japan now operates the exchanges on the tokens mentioned above. 

According to the announcement, the OMG Network (OMG) is a token based on the ERC20 standard. OMG Network is one of the fast growing Layout 2 solutions providing solutions to Ethereum's scalability problems.

The network was renamed by OmiseGo, and its main goal is to offer affordable, low-cost and fast peer-to-peer financial services for non-banked individuals. 

As of press time, the OMG token is one of the highest earners in the market with its price rising 14,3% in the past 24 hours to $ 5,88.

Basic Attention Token (BAT) is an ERC20 standard token that supports a decentralized and open-source advertising platform. It works in a "Brave" web browser, which aims to exist alongside users, advertisers and websites. Users of this browser earn BAT as a reward for displaying ads on websites. 

The BAT token has risen 7,5% in the past 24 hours and is currently trading at $ 1,08. The third token, Chainlink (LINK), is also an Ethereum ERC20 token. 

According to Kraken:

"LINK connects decentralized peer-to-peer networks and smart contracts to real world data, events and payments."

Of the three assets, LINK is the only one that has been on a green run over the past week, however, over the past 24 hours, it has lost 1,6% of those gains. It is currently trading at $ 26,3.

The Kraken operation in Japan

Kraken's first foray into Japan began a month after the region's leading former stock exchange, Mt. Gox, suffered a major hack and went bust due to a loss of $ 460 million in 2014. time, Kraken founder Jesse Powell received an invitation to help recover the fund.

Kraken Japan eventually launched and began trading around 2014 to fill the void left by the defunct Mt. Gox exchange. Four years later, it ceased operations due to "rising costs" and the need to concentrate its resources.

But it relaunched operations in October 2020, with only a limited number of cryptocurrencies available for its users. But since then, it has steadily increased the number of digital assets available.

Japan's regulatory landscape is still working to develop a stricter regulatory framework. Authorities in the Asian country set up a panel in August last year to help strengthen its regulation. 

Just recently, the Financial Services Agency (FSA) revealed its intention to regulate stablecoins such as USDT and co.