Binance Japan is set to fully launch in August and intends to initially list 34 tokens, thereby surpassing any local competitor in terms of token offerings.
The company plans to include BNB (CRYPTO: BNB) in its listing, marking the debut of its native token in Japan, according to crypto news outlet Coinpost.
Binance confirmed to The Block that new Japanese customers would have access to services such as spot trading, Earn products, and its NFT marketplace.
Binance founder and CEO Changpeng Zhao expressed in a July video that the crypto exchange has been making efforts to reestablish its presence in the Japanese market.
“It’s fantastic to see Japan being a leader in the Web3 regulatory environment,” said Zhao, praising the nation’s “very clear” crypto regulations from 2017.
In 2023, Japan’s opening-up of crypto listing frameworks, as well as the June passing of stablecoin regulations, were also positives.
“To that end, Binance is extremely happy to be able to participate in the Japanese market again,” said Zhao, citing the November acquisition of the Sakura Exchange BitCoin (SEBC).
SEBC rebranded itself as Binance Japan Inc. and is regulated by the Japan Financial Services Agency (JFSA). This move follows warnings issued by the JFSA in 2021 against Binance for operating in the country without registration.
“Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies,” said Wikipedia.
“Binance was initially based in China, then moved its headquarters out of China shortly before the Chinese government imposed regulations on cryptocurrency trading. It was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses.”
Produced in association with Benzinga
Edited by Priscilla Jepchumba and Judy J. Rotich
