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Home»Fintech»Binance enters Japan through acquisition of regulated crypto exchange
Fintech

Binance enters Japan through acquisition of regulated crypto exchange

November 30, 2022Updated:November 30, 2022No Comments2 Mins Read
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Binance, the world’s main blockchain ecosystem and cryptocurrency infrastructure supplier, introduced it has acquired 100% of Sakura Change BitCoin (SEBC), the Japanese-registered crypto trade service supplier.

Via this acquisition, Binance enters the Japanese market, as a Japan Monetary Companies Company (JFSA) regulated entity. 

The phrases of the transaction weren’t disclosed. By providing Japanese-regulated providers by means of SEBC, Binance goals to assist a accountable international surroundings for cryptocurrencies. 

Binance has secured regulatory approvals or authorizations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania and Cyprus. The acquisition of SEBC marks Binance’s first license in East Asia. 

Takeshi Chino, common supervisor of Binance Japan, mentioned: “The Japanese market will play a key function in the way forward for cryptocurrency adoption. As one of many world’s main economies with a highly-developed tech ecosystem, it’s already poised for robust blockchain uptake. We’ll actively work with regulators to develop our mixed trade in a compliant means for native customers. We’re keen to assist Japan take a number one function in crypto.”

SEBC is a JFSA-registered crypto trade that provides its prospects session providers along with its brokerage service. The Tokyo-based trade at the moment helps 11 buying and selling pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.

Hitomi Yamamoto, CEO of SEBC, mentioned: “We’re honored and delighted to make this announcement with Binance, one of many world’s main crypto asset trade service suppliers. On high of our effort to prioritize consumer safety, Binance’s robust compliance system will contribute to constructing a extra compliant ambiance for customers in Japan and assist them entry key crypto providers wanted for mass adoption sooner or later.”

See also  Japan to jail citizens for online insults, doesn't define 'insult'

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