Binance, the world’s leading blockchain ecosystem and cryptocurrency company, has acquired 100 per cent of Sakura Exchange BitCoin (SEBC), the Japanese-registered crypto exchange service provider.
The details of the deal haven’t been disclosed.
Through this acquisition, Binance is set to re-enter the Japanese crypto market as a Japan Financial Services Agency (JFSA) regulated entity four years after it had exited the country.
Binance aims to support a responsible global environment for cryptocurrencies by offering Japanese-regulated services through SEBC.
The acquisition of SEBC marks Binance’s first license in East Asia.
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Binance has secured regulatory approvals or authorisations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus.
“The Japanese market will play a key role in the future of cryptocurrency adoption. 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,” said Takeshi Chino, General Manager of Binance Japan
Sakura Exchange currently supports 11 trading pairs, including BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY.
Hitomi Yamamoto, CEO of SEBC, said: “On top of our effort to prioritise user protection, Binance’s strong compliance system will build a more compliant atmosphere for users in Japan and help them access key crypto services needed for mass adoption in the future.”
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