Copy link
Increase text size
Decrease text size
Link copied

Crypto exchange Binance to enter Japan as a regulated entity

Binance announced that it has acquired 100% of Sakura Exchange Bitcoin (SEBC), a Japanese crypto exchange service provider regulated by the Financial Services Agency.

Image by: Wikimedia Commons

Thu, 01 Dec 2022, 16:15 pm UTC

Crypto exchange Binance has initiated moves that will enable it to enter the Japanese crypto market as a regulated entity. The company has recently announced that it has acquired a Japanese crypto exchange that is already regulated.

On Monday, cryptocurrency exchange Binance announced that it has acquired 100% of Sakura Exchange Bitcoin (SEBC), a Japanese crypto exchange service provider regulated by the Financial Services Agency, Bitcoin.com reported.

“Through this acquisition, Binance enters the Japanese market as a Japan Financial Services Agency (JFSA) regulated entity,” the company explained. “By offering Japanese-regulated services through SEBC, Binance aims to support a responsible global environment for cryptocurrencies.”

SEBC is a Tokyo-based crypto exchange that offers consultation and brokerage services to its customers. Its trading platform supports 11 trading pairs such as BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.

Binance Japan Takeshi Chino explained that his company’s expansion in Japan is driven by their conviction of the Japanese market’s importance. “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,” he said.

Takeshi Chino also assured that Binance Japan will be fully compliant with the country’s crypto regulations while offering its products and services. “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,” he added.

Binance ceases its operations in Japan in 2018 after receiving a warning by the Financial Services Agency for operating without a license. The crypto exchange received another warning in June last year as the FSA reiterated that the crypto firm provided crypto exchange services to Japanese customers without registration.

“The acquisition of SEBC marks Binance’s first license in East Asia,” Binance said.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

  • Bitcoin (btc) $23,392.00 (+0.10%)
  • Ethereum (eth) $1,667.21 (+0.26%)
  • BNB (bnb) $334.70 (+1.39%)
  • USD Coin (usdc) $1.00 (-0.15%)
  • XRP (xrp) $0.411095 (-0.14%)
  • Bitcoin (btc) $23,392.00 (+0.10%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.