Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan

Malta-based cryptocurrency exchange Binance has announced that it has entered into strategic partnership discussion with Z Corporation, a wholly-owned subsidiary of Softbank subsidiary Z Holdings Corporation, and Japanese licensed cryptocurrency exchange TaoTao.

In its press release, Binance said that it will continue discussions and deliberations with Z Corp and TaoTao and start preparing for the launch of trading services for Japan-based users.

“Through licensing Binance’s cutting-edge technologies, Z Corp and TaoTao will collaborate with the Financial Service Agency to ensure full regulatory compliance in the Japanese market,” it said.

The announcement comes on the heels of Binance’s recent statement that it will be “phasing out” its services to Japanese residents. The exchange had said that it was planning to gradually restrict transactions for the users in Japan.

Many non-Japanese may not understand the significance of this. TaoTao & Z-Corp are subsidiaries of Yahoo Japan. YJ has been independent from Yahoo US for a long long time and is doing well. It is 48% owned by Softbank.

Couldn't ask for a better partner than TaoTao in Japan. https://t.co/dhTaJkD7WC
— CZ Binance (@cz_binance) January 17, 2020

Earlier this week, CoinDesk confirmed that Binance will be launching a support center in South Korea through its subsidiary, Binance Co. Ltd.

Yesterday Korea, today Japan, tomorrow burn.

If you still call this work, then my fun times are less fun than work. https://t.co/ToClijHxAg
— CZ Binance (@cz_binance) January 17, 2020

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