[NEWS] OKCoin Japan to become the first in Japan to start handling Arbitrum (ARB)

On the 21st, OKCoin Japan, a domestic cryptocurrency exchange, announced that it will start handling Arbitrum (ARB) from 5:00 p.m. on the 28th of this month. If Arbitrum starts handling as planned, it will be the first in Japan.

This will allow OKCoin Japan to handle 28 types of cryptocurrency.

Arbitrum is an Ethereum Layer 2 chain developed by Offchain Labs. It aims to solve scalability problems such as transaction processing delays and rising fees that occur due to the increasing demand for the Ethereum blockchain.

Arbitrum incorporates a technology called "Optimistic Rollup," which processes transactions off-chain and then sends the data to Ethereum in bulk to speed up transactions.

Arbitrum has developed two Layer 2 blockchains, "Arbitrum One" and "Arbitrum Nova," which have different purposes of use.

Arbitrum One is suitable for use in DeFi (decentralized finance) protocols and NFTs, while Arbitrum Nova is suitable for use in blockchain games and social apps.

Until now, the operation was handled by the developer Offchain Labs, but decentralization has progressed and Arbitrum DAO was established in March of this year. The operation body has also shifted to Arbitrum DAO. With the shift in operation to DAO, ARB was launched as a governance token.

Regarding Arbitrum, OKCoin Japan supports both Arbitrum and Ethereum (ERC20) networks for both deposits and withdrawals.

OKCoin Japan has rapidly expanded the cryptocurrency it handles this year. This year, the company has started handling Tezos (XTZ), Efinity Token (EFI), Shiba Inu (SHIB), The Sandbox (SAND), Polygon (MATIC), Dai (DAI), and Filecoin (FIL), and will now start handling arbitrage.

Source:Announcement
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