Digital Finance & Tokenization▼
Bitbank to End Handling of Enjin Coin on October 16
Cryptocurrency exchange Bitbank announced on September 14 that it will discontinue handling Enjin Coin (ENJ) among the crypto assets it supports, effective October 16. The company cited the persistent price gap between the ENJ on Ethereum that it handles and the ENJ on the Enjin Relay Chain, which Enjin operates independently. It said the background to this is that no official bridge connecting the two exists, making it difficult to move the asset across chains. Bitbank had also warned users on August 13 of last year that the price of the ENJ it handles was diverging from other exchanges by about 20%. With the discontinuation, the exchange will stop accepting new orders and halt deposits and withdrawals as of 10 a.m. on October 16, and ENJ held by users will in principle be converted into Japanese yen based on market prices and reflected in their account balances.