Japanese cryptocurrency exchange bitFlyer will support the airdrop Spark Token program for XRP holders

Japanese cryptocurrency exchange bitFlyer will support “Spark Token”, the airdrop for XRP holders. bitFlyer says the exchange will list the Spark token if it is approved by the JVCEA and the Financial Services Agency by Jun 12, 2022.

Flare Networks is preparing an airdrop of 45 billion Spark tokens, based on a snapshot of XRP addresses on December 12, supported by Ripple’s investment arm RippleX (formerly Xpring). This is also seen as one of the factors driving XRP’s uptrend.

The announcement from bitFlyer says:

“We have reached an agreement with Flare Networks under the condition that domestic exchanges will list the Spark token if it is approved by the JVCEA and the Financial Services Agency by Jun 12, 2022.

We will suspend deposits, withdrawals, purchases, and sales of XRP at 8:30 AM (JST) on Sat, Dec 12. Any XRP deposited to your account during the suspension may not be reflected to your account. We will announce the resumption of these services at a later date.”

Huobi also said the decision to support the airdrop did not mean they would list Spark tokens. Huobi is currently undergoing thorough due diligence on Flare and the Spark token airdrop by December 12 to provide the most accurate service to their customers.

Flare Networks is a project from Ripple’s investment division Xpring, tasked with introducing smart contract functionality on the XRPL distributed ledger. In particular, Flare Networks will airdrop Spark token to XRP holders at a 1: 1 ratio. It is known that Spark will be used for network administration and other purposes. To operate a smart contract, it is necessary to issue FXRP (same value as XRP) – and this token is issued through Spark as collateral.

Snapshot of accounts receiving the airdrop will be taken on December 12, 2020. Therefore, we still have plenty of time to prepare before the official announcement.

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