Japan Open Chain to launch Initial Exchange Offering (IEO) for native token “JOC”

Japan Blockchain Foundation, which operates and manages the consortium for “Japan Open Chain (JOC),” will commence the Initial Exchange Offering (IEO) of the “Japan Open Chain Token (JOC)” on the “BitTrade IEO” platform starting November 20, 2024. This IEO is launched in partnership with BitTrade under the terms of the agreement between both parties.

The JOC Token (Japan Open Chain Token) is a utility token required to utilize Japan Open Chain. Japan Open Chain is a blockchain project committed to adhering to Japanese regulations, offering a fast, secure blockchain managed by trustworthy operators. The project aims to make cutting-edge Web3 technology accessible to everyone, addressing global social issues through immediate transfers with fees under 1 yen and enhancing asset liquidity via NFTs.

Additionally, to ensure liquidity for the JOC Token post-IEO, the Japan Blockchain Foundation plans to conduct a simultaneous listing on multiple global exchanges — a first of its kind in Japan — on the same day or around the same time. Starting December 23, 2024, investors worldwide, not only in Japan, will be able to purchase JOC Tokens.

In the IEO, 50m out of a maximum issuance of one billion tokens will be distributed at a price of JPY 30 per token.

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