Shiba Inu on Japan's Green List With 10 Member Firms Handling Token
Key Facts
Shiba Inu was included on the Japan Virtual and Crypto assets Exchange Association's Green List, with 10 member firms handling the token, according to the version dated October 2, 2026. The association lists cryptoassets it describes as "widely traded in Japan" among its members. This places the token among assets meeting the requirements of a system intended to streamline the association's review of their handling. In the same version, 30 member firms handled bitcoin, compared with 29 handling ether. Shiba Inu therefore has a smaller presence among association members than the two currencies, measured by the number of firms offering transactions in each asset.
The list is issued by a self-regulatory body that, according to the association's description of itself, holds two legal designations under Japan's financial services framework. It is a certified association under the Payment Services Act and also holds certified association status under the Financial Instruments and Exchange Act. The association launched the Green List system in March 2022, according to its annual report. The report described it as "a system to streamline the association's review of cryptoassets that meet specific requirements." This framework links streamlined procedures to an asset meeting the association's conditions concerning its handling among member firms.
For a cryptoasset to be included on the list, the association requires at least 3 member firms to handle it, making its adoption among service providers part of the eligibility criteria. A further timing requirement stipulates that at least 6 months must have elapsed since a member firm began handling the asset. The association must also not have imposed additional conditions on its handling. There must likewise be no grounds that the association considers would prevent its inclusion among assets covered by the list. The listing requirements thus combine the number of firms handling an asset, the length of time it has been available at one of them, and its status under restrictions set by the self-regulatory body.
Shiba Inu had previously entered local trading services through firms that announced its availability during 2023. BitFlyer began handling the token through its altcoin sales service from March 29, 2023, according to the company's announcement at the time. SBI VC Trade then announced it would begin handling Shiba Inu from June 28, 2023. Its announcement included the token alongside Dai and Cosmos among the assets added for transactions on that date. SBI described Shiba Inu as "an Ethereum-based cryptoasset created in imitation of Dogecoin" in its description of the token accompanying the announcement.
In a further expansion of access to the token in Japan, Mercoin announced the availability of Shiba Inu and Dogecoin trading among 12 additional cryptoassets through the Mercari app from June 8, 2026. The service arrangement allows transactions in these assets within the app, with Mercoin acting as an intermediary, according to its announcement. Coincheck is the user's counterparty for transactions in the added assets, under the service structure set out by the company. The service allows sales proceeds held in a Merpay balance to be used for transactions in those assets, linking the balance generated from sales within the app to the trading service. Use of the Coincheck-linked trading service within Mercari is limited to residents of Japan, with its terms excluding non-residents. In its disclosures, Mercoin states that cryptoassets "are neither Japanese legal tender nor foreign currency." It also warns that trading them may result in losses due to fluctuations in the value of the cryptoassets being traded.