Japan has become the second-largest cryptocurrency market in the world, according to CryptoSlate, and when your GDP growth is shrinking to a new low it’s nice to have all those crypto and blockchain companies to fall back on.
The website quotes the Japanese Financial Services Agency saying that as of March, Japan had at least 3.5 million citizens trading cryptocurrencies. It’s not just citizens clamoring to get in on the act. The nation has already received more than 100 applications for new cryptocurrency exchanges. And when one of your biggest e-commerce retailers plans to offer its own cryptocurrency, you know crypto is getting hot.