Binance Japan Launches Crypto Trading Platform

Binance Japan Launches Crypto Trading Platform

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Crypto exchange Binance announced the launch of Binance Japan, a dedicated platform for the Japanese crypto market. Binance Japan customers can access 34 tokens for spot trading.

The world’s largest cryptocurrency exchange, Binance, officially launched Binance Japan, its crypto trading platform dedicated to Japanese customers. The platform grants its customers access to 34 tokens for spot trading – the largest number of tokens offered by any exchange in Japan.

Binance Japan Launches, $BNB Now Available

Binance has re-entered the crypto market in Japan with the launch of its new trading platform. The exchange announced in May that it would suspend the use of its global platform to Japanese residents. The exchange said Japanese residents would no longer be able to use its global platform after November 30.

The exchange said it would launch Binance Japan on August 1, 2023, and the platform would fully comply with local regulations. Customers were advised that they could start migrating to the new platform through a new identity verification process after August 14.

The exchange was previously known as SAKURA Exchange BitCoin, which Binance acquired as a licensed local crypto exchange service provider in November 2022. Since the acquisition, the business was renamed Binance Japan Inc.

The platform will offer its customers a range of services and tokens, including $BNB, which becomes available in Japan for the first time. Binance Japan users will have access to spot trading and Earn products with a selection of 34 tokens for spot trading.

Binance has turned to acquiring operating licenses after Japan’s Financial Services Agency warned it of its failure to register.

Japan Welcomes Crypto

Japan is becoming a welcoming space for crypto in Asia as it continuously introduces regulations to attract crypto firms and investors to its shores. Most recently, the country said it would offer a 30% tax break for companies issuing cryptocurrencies.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

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