JVCEA Approves Enjin Supported Efinity

Enjin-backed Efinity Token became the first crypto gaming token (EFI) to be approved in Japan, with approval in 2021. Efinity was also approved by the Japan Virtual and Crypto Asset Exchange Association (JVCEA) on January 26, 2023.

As of February 1, only 65 tokens, including Bitcoin and Ethereum, have been certified by the Japan Virtual and Crypto Asset Exchange Association (JVCEA). Enjin Coin (ENJ), The Sandbox (SAND), Axie Infinity (AXS), Chiliz (CHZ), and Klaytn (KLAY) are some of the other approved metaverse/game tokens EFI has joined. Efinity is being developed by the Enjin team.

Enjin (ENJ) was the first metaverse/game token approved in 2021. In fact, ENJ and SAND were the only metaverse/game tokens among JVCEA’s “Green List” tokens in 2022.

“We are delighted to see EFI making it easier for Japanese developers and users to build on Efinity by passing the rigorous Japanese screening process,” said Oscar Franklin Tan, Enjin’s Chief Financial Officer and Legal Director. Stating that they are eagerly following Japan’s Web3 move and regulatory reforms, the manager said that they expect other governments to take similar initiatives to help build the metaverse.