Japan’s Zaif cryptocurrency exchange adds XEM to trading platform

Japan’s Zaif cryptocurrency exchange adds XEM to trading platform

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Zaif, the Japanese cryptocurrency exchange operated by Tech Bureau, announced it is adding the cryptocurrency XEM to its trading platform.

In the past several weeks the cryptocurrency XEM, which was launched in 2014 by the cryptocurrency peer-to-peer platform NEM has been rising significantly to rank sixth among the global cryptocurrencies, with a market cap of USD 85 million, according to data of coinmarketcap.com.

So far Zaif has been offering only trading in Bitcoin and Monacoin. With the addition of XEM, its clients can trade in XEM/JPY and XEM/BTC is expected to be added in the next 2 weeks. Customers in Japan can buy XEM automatically using the dollar cost averaging method.

“It is time that we can engage someone in Japan to spearhead the development and promotion of the NEM blockchain technology,” said Lon Wong, CEO of Dragonfly Fintech, core member of the NEM team, and advisor to the Blockchain Collaboration Consortium, Japan.

“The project to fusion Tech Bureau and NEM into one big community is a continuing challenge for us all,” said Takao Asayama, CEO of Tech Bureau and Director of NEM Japan says. “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.”

In May this year Tech Bureau, the operator of the Zaif exchange, announced it is advancing the development of its Catapult Blockchain Engine project with NEM. Previously the two companies have developed the private blockchain project Mijin.

Earlier this year the Japanese forex broker Money Partners Group invested JPY 49 in Tech Bureau and formed a partnership which will start providing services using Bitoin by the end of this year. Tech Bureau also attracted a $6.2 million investment in a Series A round.

NEM was established in 2014. It is a peer to peer cryptocurrency platform and provides/will provide services like payments, messaging, asset trading and smart contracts.

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