Netmarble, the South Korean video game giant, has scored a major win for blockchain gaming by getting its subsidiary MarbleX’s MBX token listed on the Japanese exchange Zaif. This will be the first time a South Korean gaming firm has listed a token in Japan when it goes live on October 11.
MarbleX is Netmarble’s blockchain and cryptocurrency-focused division. The listing comes on the heels of Japan softening its previously very strict policies around approving new token listings, partly thanks to Prime Minister Fumio Kishida’s pro-blockchain stance.
Meanwhile, in South Korea, regulators have thrown up roadblocks to domestic crypto and blockchain gaming companies through bans on practices like initial coin offerings, play-to-earn gaming, and strict anti-NFT rules. This restrictive environment has pushed innovative gaming firms like Netmarble to look overseas to markets like Japan for growth opportunities.
Netmarble had to wait nearly 4 months after getting MBX whitelisted in Japan back in July before an exchange like Zaif was willing to take the plunge on an actual listing. The approval process in Japan is lengthy, involving exchange reps, self-regulatory bodies, and the national Financial Services Agency.
But with the listing now imminent, it represents a major milestone and beachhead for South Korean gaming in Japan’s crypto space. Some believe Japan is poised to become a “crypto El Dorado” as it deregulates, while South Korean regulators only tighten controls. The Zaif listing could spark a blockchain gaming breakthrough for Netmarble and other South Korean firms frustrated by domestic restrictions.
#SouthKorea #Japan #Blockchain #Cryptocurrency
