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Tao Tao platform ends its negotiations with Binance due to lack of agreements

Tao Tao platform ends its negotiations with Binance due to lack of agreements

Quick take

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  • Tao Tao, a well-known digital asset trading platform in Japan has just ended its negotiations with the Binance crypto platform which has subsequently pushed back plans for the exchange to launch its trading services in the country.
  • The Tao Tao platform revealed an update earlier this week on the 5th of October which stated that it has decided to end its negotiations with the crypto conglomerate after nine months of discussions. 

Tao Tao, a well-known digital asset trading platform in Japan has just ended its negotiations with the Binance crypto platform which has subsequently pushed back plans for the exchange to launch its trading services in the country.

The Tao Tao platform revealed an update earlier this week on the 5th of October which stated that it has decided to end its negotiations with the crypto conglomerate after nine months of discussions. As well as talking with Tao Tao, Binance had also been discussing collaboration opportunities with the digital asset trading platform Z Corporation. This is all apart of the goal for Binance to expand its services into Japan.

Whereas the Japanese based exchange did not provide any specific details in regards to how negotiation ended, a spokesperson has said that they “could not agree“ when it came to a strategy with the platform.

Earlier this year in January, the exchange revealed that it would be restricting access to residents of Japan but they did not specify any date. This was allegedly in response to an increasing number of regulations coming into Japan and it also comes after Binance was previously headquartered in the country after leaving China in 2017. This came before it relocated to Malta but a year later.



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