Binance, the world’s largest crypto exchange, has officially announced the launch of its crypto assets exchange service in Japan as Binance Japan K.K. The exchange sets a new record by starting with a listing of 34 tokens, surpassing any other local exchange in the country.
We’re proud to announce that #Binance has officially launched in Japan as Binance Japan K.K.
Users in the country now have access to more tradable tokens than any other exchange, with Spot and Earn products available.
Find more details below.https://t.co/grxPYSsp84
— Binance (@binance) August 1, 2023
BNB Becomes Available to Japanese Users
One of the noteworthy tokens among the 34 listed is Binance Smart Chain’s native token, BNB, which will now be accessible to Japanese users for the first time. This move is expected to enhance the diversity of investment options available to crypto enthusiasts in Japan.
Migration Process for Global Binance Account Holders
Customers in Japan who already hold global Binance accounts will have the opportunity to commence the migration process starting from August 14, 2023. This smooth migration process will enable existing users to seamlessly transition to the Binance Japan platform.
Wide Range of Crypto Options
Binance Japan aims to cater to various crypto interests by offering a wide selection of tokens, including those related to decentralized finance (DeFi) and blockchain-based gaming. Notable tokens available for purchase include Solana (SOL), Aster (ASTR), Avalanche (AVAX), Jasmy (JASMY), and Axie (AXS), among others. The comprehensive range of options aims to cater to diverse investment preferences and strategies.
Comprehensive Services Offered
Binance Japan aims to provide its new customers with a suite of services that enhance their crypto experience. These services include spot trading, Earn Products, and access to the exchange’s NFT marketplace. With such comprehensive offerings, Binance Japan aims to become a one-stop platform for all crypto-related activities.
No Leverage Trading
While Binance Japan aims to offer a wide array of services, the exchange has made it clear that it will not provide leverage trading. This decision is in line with the exchange’s approach towards responsible and sustainable trading practices.
Binance’s Efforts to Re-Enter Japanese Market
Binance has been actively working on re-entering the Japanese market. The founder and CEO of Binance, Chanpeng Zhao, expressed his enthusiasm for Japan’s leadership in the Web3 regulatory environment. The strategic entry into the Japanese market is seen as a significant milestone for Binance’s expansion plans in the region.
Acquisition of Sakura Exchange Bitcoin CO., Ltd.
In November 2022, Binance made a major move by acquiring Sakura Exchange Bitcoin CO., Ltd. (SEBC), a registered exchange under Japan’s Financial Services Agency. Following the acquisition, SEBC underwent a change in management, with all its shares being transferred to Binance Holdings.
Conclusion
Binance’s official launch of Binance Japan marks a momentous occasion for the crypto community in Japan. The exchange’s record-breaking token listing and access to the popular BNB token represent a significant step towards offering diverse investment opportunities to Japanese users. By providing comprehensive services and adhering to responsible trading practices, Binance Japan aims to foster a thriving and sustainable crypto ecosystem in the country. As the Japanese market embraces Binance’s offerings, the exchange’s presence is set to contribute to the growth and development of the crypto industry in Japan and beyond.
