Japan may be on its way to creating a state-issued digital currency, but local companies in the third largest economy in the world can still innovate and create some healthy competition.
Coincheck, the crypto exchange in the Asian nation, currently trades for eleven cryptocurrencies for trade, sale, and purchase. They announced on Feb. 25 that they intended to add another to the mix. The cryptocurrency Qtum (QTUM) will soon be the 12th available to trade on the stock exchange.
As with other cryptocurrencies that manages the exchange, Coincheck allows its users to send, receive, buy and sell Qtum.
However, they can also use Qtum for Coincheck’s loan service. Under the existing service, users can lend their cryptocurrencies to the stock exchange by concluding a loan agreement. As soon as this contract expires, Coincheck returns the cryptocurrency with an annual percentage on top. The exchange rate claims that the annual interest rate has risen to 5%.
Qtum is a blockchain platform established in December 2016. They work together with both Google and Amazon to develop their Dapps platform. From Feb. 25, the date of issue for the cryptocurrency has not been set.