- Binance Japan’s anticipated August launch with 34 tokens, including BNB, BTC, ETC, and ADA.
- The crypto exchange will offer spot trading and real-time single-selling price.
- Binance’s return through SEBC acquisition also introduces “Simple Earn” and NFT Marketplace.
Binance Japan is preparing for its anticipated launch in August, as announced on Japan’s news platform, Coinpost. Alongside the exchange’s native token “Build and Build” (BNB), formerly known as Binance Coin, Binance will also be featuring 34 tokens, including BTC, ETC, DOT, QTUM, ALGO, ETH, and ADA.
According to Coinpost, Binance Japan is set to launch two primary services, including a cryptocurrency exchange or spot trading service facilitating transactions between users through a matching system. The second service is an exchange that shows a real-time single selling price, similar to a vending machine. This exchange will involve an asset sale or convert feature.
However, it’s worth noting that Binance Japan won’t be providing leveraged trading, which involves buying and selling assets multiple times using margin. To offer leveraged trading services in Japan, a company must obtain a “Type 1 Financial Instruments Business” license, which comes with stringent requirements and regulations.
Binance Japan is finally onboarding users and officially launching full service after two years since it received a warning from the Financial Services Agency (FSA) for operating without proper permission.
The comeback was made possible through Binance’s acquisition of the regulated exchange, Sakura Exchange BitCoin (SEBC), in November 2022. As a part of the acquisition, the existing services on SEBC were scheduled to be terminated on May 31. Subsequently, CEO Chanpgpeng Zhao declared,
And to that end, Binance is extremely happy to be able to participate in the Japanese market again, from the acquisition of the SEBC platform last November, and we were going to launch the full service in August.
Binance’s re-entry in Japan will also offer additional features such as “Simple Earn (credit crypto assets)” and an “NFT Marketplace.” Through these services, users can deposit their crypto assets and earn interest, typically in the form of crypto assets. Furthermore, the platform includes “auto-invest” and “API connectivity” functionalities to cater to the requirements of investors and traders, enhancing the overall user experience.
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