Japan’s Cryptocurrency Ecosystem


Japan is the land where tradition stands beside technological advancements. When you visit Japan, you can witness this contrast large cities like Tokyo where well-preserved historical centres are enclosed by towers of concrete buildings and the bustle of everyday life. These contradictions also play out in their economy, making japan the one of the world’s most Crypto friendly spaces but aside form investing in large sums in cryptocurrencies, 65 percent of their transactions are cash based. Thus, creating a sort of unique cryptocurrency ecosystem.



Several banks in Japan now are launching their own digital currencies despite their dependency on cash for everyday transactions, just to encourage the people of japan to move to a cash-less transaction system. Mizuho Financial group, has launched their own crypto assets- “J-coin” that don’t use the decentralised blockchain network, but it aims to promote cashless transactions among the “Nihonjin” (the people of Japan), aiding the already existent cryptocurrency ecosystem.
Many Japanese businesses do, however, accept cryptocurrency payments making it a suitable cryptocurrency ecosystem for enthusiasts to thrive in. This is one fact that a crypto-traveller should keep in mind while visiting the country, as this would allow the traveller to use the utility tokens that they have invested in and cut out on the extra spends that occur while visiting another nation, such as currency conversion charges, credit card transaction charges and so on.
It is advisable for a crypto- travel enthusiast to have a mobile crypto wallet that allows them to transact with ease and provides security to the crypto assets linked with the person. XcelPay is one such wallet that a crypto-traveller can use. Download the app now available on IOS and Android app stores.

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