J Venture Anchors JFIN Coin Value to Bitcoin
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The CEO of J Ventures, Thanawat Lertwattanarak, announced the debut of JFIN coin, which is touted as the country’s inaugural digital currency tied to the leading cryptocurrency by market valuation, Bitcoin. Trading commenced on Tuesday evening through Coinstore.com.
At present, USTD is the standard currency to which all Thai digital currency transactions are anchored.
Thanawat noted that launching JFIN coin is a strategic step towards advancing the company’s proprietary blockchain technology, while also clarifying that financial gain from the cryptocurrency industry’s recovery is not the primary objective of the company.
Industry specialists, including Ben Weiss, the co-founder of a cryptocurrency ATM company, have indicated that with the onset of Exchange Traded Fund (ETF) endorsements and the anticipated halving event, 2024 may be a breakthrough year for cryptocurrencies.
Thanawat reaffirmed that the objective behind aligning JFIN coin with Bitcoin is to diversify the ways in which coin holders can utilize or expend their coins.
The announcement of this initiative coincides with the company unveiling its strategic plan for 2024. This strategy involves the expansion and enhancement of the JFIN Chain ecosystem through the introduction of new collaborators and functionalities. This will facilitate enterprises in adopting Web 3.0 and blockchain innovations like Non-Fungible Tokens (NFTs), fostering avenues for growth and pioneering developments.
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