Japan-based bitFlyer crypto exchange lists NEM (XEM)

Written by: Jinia Shawdagor
August 6, 2020
  • This listing aims to let NEM’s Japanese community benefit from bitFlyer’s liquidity.
  • NEM’s Symbol launch is set for this year, and XEM holders will be able to participate in it.
  • XEM crosses the £0.0455 level for the first time in a month as the crypto market rallies.

Leading Japanese exchange bitFlyer has added support for XEM, NEM NIS1’s native crypto asset. NEM unveiled this news via a blog post on August 6, noting that this listing would let NEM’s vast Japanese community enjoy the liquidity of the bitFlyer crypto trading platform.

Commenting on this bullish news, Iain Wilson, NEM’s CFO, and MD of NEM Trading said,

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

“Our Japanese community has played an instrumental role in the growth of the NEM ecosystem over the last five years. This listing will promote further momentum and growth of the community, both in Japan and beyond. We’re delighted that bitFlyer, one of the most established and trusted exchanges in Japan, has decided to list XEM. This decision deepens their involvement in both NIS1 and Symbol, and brings increased liquidity to our community.”

NEM’s much-awaited Symbol launch

This news comes as the NEM community anticipates the launch of Symbol, a next-generation enterprise-grade blockchain solution. This solution aims to help businesses cut costs, minimize difficulties, and ensure seamless innovation. Reportedly, Symbol would boast flexibility, superior security, speed, and ease of use, making it the best-in-class blockchain enterprise solution.

The firm intends to roll out the Symbol chain in parallel with NEM NIS1.  As such, this launch will offer XEM holders agency. Opting in would see XEM holders get an XYM balance that is equal to their XEM holdings at the time of the snapshot. In turn, XEM holders will be in a position to take part in the official rollout of Symbol with a XEM=XYM allocation before the end of 2020.

Tip: looking for an app to invest wisely? Trade safely by signing-up with our preferred choice, eToro: visit & create account

XEM’s price performance

This news comes as XEM continues trading positively. This bullish momentum has seen XEM breach the £0.0455 level for the first time in more than 30 days. At the time of writing, the coin is trading at £0.046, a 6.85% gain over the past 24 hours. XEM The coin currency sits on position 29 on CoinMarketCap’s Top-100 list and has a market cap of £413 million.