Binance Relaunches in Belgium, Taps Japan with Stablecoin Move

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Binance Relaunches in Belgium, Taps Japan with Stablecoin Move
  • Binance Belgium reopens registrations for Belgian residents, restoring access to its services.
  • Binance collaborates with Mitsubishi UFJ Trust Bank on a stablecoin project for the Japanese crypto market.
  • The stablecoin project will utilize the Progmat Coin platform and adhere to Japanese regulations.

Binance Belgium, the sister arm of the largest crypto trading platform, Binance, has announced the reopening of registrations for residents of Belgium on its platform. The exchange proclaimed the development in a recent post on X (formerly Twitter).

Alongside reopening registration for the Belgian crypto community, the exchange noted the restoration of access to various Binance products and services for Belgian users who have accepted the updated Terms of Use.

In the notification, Binance expressed deep appreciation for Belgian users’ patience and loyalty throughout the challenging periods. The statement read:

We have been overwhelmed by your show of support these past few months by continuously standing by us. Your patience during these recent changes has been truly appreciated.

In related news, Binance has undertaken another significant move in its efforts to make Japan its next powerhouse.  According to a recent statement, Binance has collaborated with Mitsubishi UFJ Trust Bank to introduce a stablecoin to the Japanese market.

The report noted that the upcoming stablecoin project is set to be constructed on the Progmat Coin platform, a technology owned by Mitsubishi UFJ Trust Bank, that’s in line with the Japanese regulations governing stablecoin issuance and management.

Furthermore, the report highlighted that the three prominent entities involved in the stablecoin initiative are engaged in a joint research endeavor to facilitate the project’s unveiling. Besides, it mentioned that the expected stablecoin will be pegged to the Japanese yen and incorporate other foreign currencies.

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