On July 9, 2020, the largest crypto exchange in Japan, Bitflyer, announced a partnership with the privacy and crypto-focused Brave browser in a bid to develop a crypto wallet for the Brave browser users.
BitFlyer, which is now set to be Brave’s first partner in the crypto wallet sphere in Japan, sees the move as an exciting opportunity for users to use and earn cryptocurrency.
This joint project’s precise details will be unveiled during Brave Asia, held online on July 30. BitFlyer will be.
This alliance will help Brave tap into one of Japan’s fastest-growing crypto markets, where the privacy-based browser is becoming increasingly popular.
Last month, Brave partnered with Korean with Rush Gaming, a Japanese e-sports team, to develop browsers exclusively for Japan users.
In that venture, users of the limited edition browser can earn tokens by watching ads and then donate them to the team, thus giving back to the content creators and stimulating online communities’ growth.
Japanese Citizens to Earn Rewards in BAT
Brave browser, which currently has over 15 million monthly active users, deploys its Basic Attention Token (BAT) to incentivize users. However, the browser cannot currently reward its Japanese users with BAT tokens due to government regulations.
Instead, the platform offers users BAT Points, which allow them to tip content creators, although they cannot be purchased as in the case of BAT tokens. This is because Japanese regulations prevent citizens from earning virtual currencies that can be exchanged for fiat directly.
That said, the creation of a crypto wallet by the exchange and browser could enable Japanese Brave users to earn rewards in BAT.
A spokesman from Brave hinted that speculation over the upcoming wallet might be true, noting:
“At this point, we are using ‘points’ to reward users, but there are some limits. [Through the partnership], we think it may be possible to go beyond that.”
Apart from developing the new crypto wallet, both BitFlyer and Brave plan to launch a joint marketing campaign to make people aware of cryptocurrencies and blockchain.
BitFlyer Exchange Lists Brave BAT Token
In April of 2020, several Japanese crypto exchanges, including BitFlyer, announced trading of Brave’s native token BAT to make people feel more familiar with crypto and to enhance customer convenience.
And now, the Brave wallet’s imminent launch along with the ensuing crypto advertising campaign, the recognition and use of digital tokens will inevitably surge in Japan.
The crypto community is also expecting new legal solutions to convert BAT to BAP and its usability in the online space.