ChainX the South Korean digital currency exchange has partnered with IFA, a Japan-based blockchain company, in order to maximize the benefits from their mutual interests in the blockchain industry.
The deal will see a working relationship established between the two companies lasting an initial three years. In this time, the partnership will be geared towards creating a mutual understanding of the business needs and strategy of both companies to create investment opportunities and enable broader understanding between the two countries.
About ChainX
ChainX’s main network was launched on May 25, 2019, and quickly upgraded to 1.0.2 version a month later. By August 1st, the first parliament was established. By September 1st, the second parliament of the ChainX community was established.
About IFA
IFA is a Japanese blockchain company whose goal it is to make the management of personal assets easier and more efficient. Established in October 2014, the Internet and Information Systems company are aiming to develop and operate a Next-Generation Bank, through their proprietary AIre product.
Korea and Japan: Two Blockchain Hubs
South Korea is one of the most advanced and crypto-friendly countries in the world today and has been on the forefront of the cryptocurrency boom and bust over the past few years, and it’s one of the few countries with wide-scale adoption of the technology. By 2017, more than a third of the country’s workers were estimated to be active investors in cryptocurrencies.
Meanwhile, Japan, the first country that recognized Bitcoin as a legal payment option, has grown to be among the leading blockchain hubs in the world. In 2019, the Japanese YEN accounted for around 40% of the global trading Bitcoin volume only second to the US dollar. Part of the reason why blockchain adoption is so impressive in Japan is due to the objective regulatory approach the Japanese government undertook.
The link-up between ChainX and IFA is intended to further enhance blockchain cooperation between the two countries.
