Often referred to as the “Bitcoin of Japan, JasmyCoin (JASMY) has seen a sharp 20% increase in value amid whirlpool of speculations about a possible alliance with tech behemoth Apple. This conjecture is based on a recent announcement made by the Prime Minister’s Office of Japan indicating, in a video conference between Prime Minister Fumio Kishida and Apple CEO Tim Cook, a forthcoming incorporation of the My Number Card system into iPhones by next spring.
With this revelation, JASMY has attracted a sizable movement and raised its market capitalization to $1.4 billion, ranking 67th among all the cryptocurrencies by market value. Over the previous 24 hours, the trade volume of the altcoin has likewise skyrocketed by 400% to $570 million.
Though the My Number Card system, a personal identity project by the Japanese government, is not formally connected to JasmyCoin, speculations of a possible relationship have been going about for months. Driven by Japan’s larger digital strategy that supports Web3 technologies like blockchain and IoT, areas where JasmyCoin is rather present, investors seem to be speculating on this possible link.
JasmyCoin Founded by Sony Executive
Former Sony executive Kazumasa Sato started JasmyCoin in 2016 with an eye on safe data transactions and storage for Internet of Things devices Rumor has it that the cryptocurrency is part of Japan’s plan to include the Metaverse and NFTs into daily life, therefore incorporating cutting-edge technologies. “Jasmy’s goal is to enable individuals to retain control over their personal information by means of safe management and storage solutions so facilitating the democratization of data,” the business says.
An incorrect claim on Binance Square, implying a direct integration of JASMY with the card’s functioning on iPhones, has further sparked conjecture on JasmyCoin’s involvement with the My Number Card system. This assertion, meanwhile, is not officially confirmed.
With Prime Minister Kishida stressing the need of digital transformation in recent remarks, Japan’s government has been an active promoter of Web3 developments as a tactic for economic growth. Though no official alliances with government initiatives like the My Number Card have been verified, this optimistic view of blockchain technology has indirectly helped JasmyCoin.
Recent action around JASMY emphasizes the erratic character of bitcoin markets, in which expectations and rumors can cause considerable price swings. Trading at $0.03068 at the time of reporting, JasmyCoin stays down over 91% from its all-time high of $0.35 despite its recent increase.
