Binance, the world’s leading blockchain ecosystem and cryptocurrency company, has acquired 100 percent of Sakura Exchange BitCoin (SEBC), the crypto exchange service provider registered in Japan.
The details of the deal were not disclosed.
This acquisition will see Binance re-enter the Japanese crypto market four years after exiting the country as a Japan Financial Services Agency (JFSA) regulated company.
Binance aims to support a responsible global cryptocurrency environment 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 received regulatory approvals or approvals 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 be actively working with regulators to make our combined exchange compliant for local users. We are committed to helping Japan become a leader 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.
SEBC CEO Hitomi Yamamoto said: “In addition to our efforts to prioritize user protection, Binance’s strong compliance regime will create a more compliant atmosphere for users in Japan and help them access key crypto services that are poised for mass adoption in will be needed in the future.”
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