Coincheck becomes first Japanese crypto exchange to list SAND

2022/05/24

Japan’s largest crypto trading service Coincheck has listed SAND, the utility token of the open virtual world platform The Sandbox, as a tradable currency, becoming the first crypto exchange in the country to do so.

Starting May 24, trading services are available between SAND and the Japanese yen, and between SAND and Bitcoin on Coincheck.

The Coincheck listing is part of The Sandbox’s plan to make the SAND token easily accessible to growing numbers of players around the world in order to boost the continued growth of its open metaverse, said Animoca Brands, the Hong Kong-based blockchain powerhouse which owns The Sandbox.

Coincheck has more than 1.6 million verified accounts as of April this year. It also attracted the highest number of app downloads in the category of crypto asset exchange services last year. 

The addition of SAND to its listed tokens comes as Coincheck continues to expand the range of crypto assets it handles. The crypto exchange said it aimed to improve the usability of its services and create new services in order to make new value exchange more accessible.

SAND is an ERC20 token issued on Ethereum and distributed in The Sandbox metaverse game world. The Sandbox is built on the Ethereum blockchain, and users can use SAND to play the game and buy items while controlling their avatars.