Binance, the world’s largest cryptocurrency exchange, has announced the launch of Binance Japan, a platform specifically designed for the Japanese crypto market. Customers of Binance Japan can trade 34 different tokens on the spot market, which is the largest selection offered by any exchange in Japan.
Binance Japan K.K. is now officially open for business, providing users in the country with access to more tradable tokens than any other exchange, as well as Spot and Earn products.
Binance Japan Goes Live
Binance has made a comeback in the Japanese crypto market with the launch of its new trading platform. In May, the exchange announced that it would stop allowing Japanese residents to use its global platform. After November 30, Japanese residents will no longer have access to Binance’s global platform.
Binance announced that it would launch Binance Japan on August 1, 2023 and that the platform would be fully compliant with local regulations. Customers were informed that they could begin transferring to the new platform by completing a new identity verification process starting on August 14.
Binance acquired SAKURA Exchange BitCoin, a licensed local crypto exchange service provider, in November 2022 and subsequently renamed it Binance Japan Inc. Binance Japan will offer its customers a variety of services and tokens, including $BNB, which is now available in Japan for the first time.
Users will be able to trade on the spot market and use Earn products with a selection of 34 tokens. After being warned by Japan’s Financial Services Agency for failing to register, Binance has begun acquiring operating licenses.
Japan is increasingly becoming a favorable destination for crypto firms and investors in Asia, as it continues to introduce regulations to attract them. The country recently announced that it would provide a 30% tax break for companies that issue cryptocurrencies.
