Binance Expanding to Serve Japanese Users in August After SEBC Acquisition
Binance, the market’s largest crypto exchange, has announced its plans to offer comprehensive services for Japanese users starting in August.
The decision follows Binance’s acquisition of Sakura Exchange BitCoin (SEBC) last November in a deal whose details remain undisclosed. SEBC is regulated by Japan’s Financial Services Agency (FSA), enabling Binance’s official re-entry into the Japanese market.
Binance views Japan as having significant potential in the emerging Web3 industry and anticipates the country to play a crucial role in crypto adoption. In May, Binance had initially planned to discontinue services for Japanese users on its global platform by November 30, allowing users to migrate to the new local platform with a new identity verification process starting from August 1. Initially, the exchange will offer up to 30 digital assets for spot trading on the new platform.
Clever Robot News Desk 27th July 2023
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