The FTX storm is not over yet. While many companies are having difficulty, this is apparently not the case for Binance which continues its ascent.
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A foot in Japan for the giant
Acquired it Sakura Exchange BitCoin (SEBC), for an amount that has not yet been announced, Binance is now setting up in the land of the rising sun. The exchange is already regulated by the JFSA (Japan Financial Services Agency). Binance frees itself from the cumbersome procedures necessary for this validation by the financial authorities. It’s a huge time (and money) saver.
This is the crypto giant’s first license in East Asia.
“The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly developed tech ecosystem, it is already primed for strong blockchain adoption. We will actively work with regulators to develop our combined exchange in a compliant manner for local users. We look forward to helping Japan take a leading role in crypto. »
Takeshi Chino, Managing Director of Binance Japan
SEBC already offers a wide choice of trading and brokerage to its users, mainly with pairs linked to the JPY (Yen). Binance intends to extend this offer and will of course offer many pairs linked to BNB, its house cryptocurrency.
Known for its strictness in terms of regulation, Japan has however relaxed its policy in recent months, in order to facilitate the implementation of startups dedicated to blockchain and cryptocurrencies.
With this acquisition, the crypto giant further strengthens its position. She now has permits to work in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania and Cyprus.
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