Leading Japanese exchange listing to permit participation in highly anticipated launch of Symbol from NEM
XEM, NEM NIS1’s native cryptocurrency, is now listed on bitFlyer, one of Japan’s largest cryptocurrency exchanges. The listing will enable NEM’s extensive Japanese community to benefit from the liquidity of the bitFlyer platform.
XEM is the native cryptocurrency of NEM NIS1, the original blockchain offering from NEM which launched in 2015. With the highly anticipated launch of Symbol from NEM, the next-generation enterprise-grade blockchain solution, the Symbol chain will be introduced in parallel with NEM NIS1 to give XEM holders agency through the migration. By opting-in, XEM holders will obtain an XYM balance equal to their XEM balance at the time of the snapshot, a predetermined time when users’ XEM balance across the NEM blockchain will be recorded . As a result, XEM holders will be able to participate in the launch of Symbol with a 1 XEM = 1 XYM allocation at snapshot later this year.
Iain Wilson, Chief Financial Officer of NEM Group and Managing Director of NEM Trading, commented, “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.”
Symbol is the next-generation enterprise-grade blockchain solution from NEM, purpose-built to help businesses cut costs, reduce complexities, and streamline innovation. With major upgrades in flexibility, security, speed and ease of use, the Symbol platform is the best-in-class blockchain enterprise solution.
Here’s the original post (in Japanese) on the bitFlyer blog.