- Leading crypto exchange, Binance will operate in Japan as a JFSA-regulated entity.
- Binance secured its first license in East Asia by acquiring SEBC.
- The acquisition will help in developing a compliant trading experience for users in Japan.
The world’s leading crypto exchange Binance is all set to officially enter the Japanese market with the acquisition of Sakura Exchange BitCoin (SEBC). Per the official statement, Binance will operate in the country as a Japan Financial Services Agency (JFSA) regulated entity through this acquisition.
Binance secured its first license in East Asia with the acquisition of SEBC, a Japanese-registered crypto exchange service provider. Binance plans to build a supportive and responsible global environment for cryptos to thrive.
Takeshi Chino, the General Manager of Binance Japan, noted:
The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake. We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto.
Apart from Japan, Binance has secured regulatory approvals to operate in countries including France, New Zealand, Italy, Spain, Kazakhstan, Poland, Lithuania, Bahrain, Abu Dhabi, Dubai, and Cyprus.
The CEO of SEBC, Hitomi Yamamoto, said that apart from strengthening user security, Binance will help in developing a compliant trading experience for users in Japan. Binance’s entry will let users access significant crypto services that are required for mass adoption in the future.
For the uninitiated, SEBC provides consultation services and brokerage services to users. Currently, SEBC supports 11 trading pairs: BTC/JPY, ETH/JPY, ADA/JPY, XRP/JPY, BCH/JPY, LTC/JPY, ETC/JPY, MONA/JPY, COT/JPY, XYM/JPY, and XEM/JPY.
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