Japan just received some crypto-positive news, as a Chinese blockchain company just unveiled it’s working on a yen-backed cryptocurrency. Crypto in Japan has always been widely accepted, but it is quite the opposite in China—the country went as far as to create its own cryptocurrency firewall.

The South China Morning Post reported this morning that Grandshores Technology Group is planning on raising $100 million HK in an initial coin offering to finance a yen-backed digital token.

Crypto in Japan

“Blockchain will become the mainstream technology in the next three to five years,” Yongjie Yao, ...