Binance Enters The Japanese Market After Sakura Exchange Bitcoin Acquisition

Binance crypto exchange entered the East Asian market. (Photo; Doc. The Coin Rise)

JAKARTA The world's largest crypto trading company, Binance, is reportedly entering the Japanese market. As part of this effort Binance has acquired a crypto exchange from Japan, Sakura Exchange Bitcoin (SEBC).

The company announced the acquisition of 100 percent SEBC regulated by Japan's financial regulator, the Financial Services Agency. That way, Binance officially spread its wings in Japan as a entity regulated by the Japan Financial Services Agency (JFSA).

"By offering Japanese-regulated services via SEBC, Binance aims to support a global environment responsible for cryptocurrencies," Binance announced.

Sakura Exchange Biatcoin is a crypto trading company located in Tokyo. The company offers broker services and consultations to its consumers. Currently SEBC trades 11 trading pairs or trading pairs, including: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.

The Japanese market will play a key role in the future adoption of cryptocurrencies. As one of the world's leading economies with a highly developed technology ecosystem, Japan is ready for a strong blockchain absorption," said Takeshi Chino, general manager of Binance Japan quoted from Bitcoin.com.

"We will actively work with regulators to develop our combined exchange in a suitable way for local users. We are eager to help Japan take a leading role in crypto," added Takeshi.

This is the second time Binance has entered the Japanese market. In 2018, Binance had decided to leave Japan after Japan's Financial Services Agency warned that the crypto exchange founded by Changpeng Zhao was said to be operating without permission.

Meanwhile, in June 2021, Japanese regulators have also warned Binance because the crypto exchange provides crypto asset exchange services to Japanese customers without registration.

However, the Binance crypto exchange has grown rapidly in the global crypto environment. Now various countries have given Binance permission to operate, including Abu Dhabi, Dubai, Bahrain, France, Italy, Spain, Poland, Lithuania, Cyprus, and New Zealand.

"The SEBC acquisition marks Binance's first approval in East Asia," wrote the crypto exchange statement founded by Changpeng Zhao.