Binance Japan is gearing up for its official launch, which is set to take place very soon. The global cryptocurrency exchange has been working tirelessly to ensure that its services are fully compliant with regulations in Japan, ensuring that users in the country can trade cryptocurrencies safely and securely. Binance Japan will offer a range of trading pairs and features to its users, including spot trading, futures trading, margin trading, and more. With the launch of Binance Japan, users in the country will have access to one of the world’s largest and most trusted cryptocurrency exchanges, providing them with excellent opportunities to trade in cryptocurrencies. Stay tuned for the official launch date!
Binance Announces Return to Japanese Market in 2023
Binance, the world’s largest cryptocurrency exchange, is set to enter the Japanese market once again after it left in 2018 due to regulatory issues. The company is planning to begin operating after June 2023, according to an announcement made by Sakura Exchange BitCoin (SEBC). SEBC, an exchange directly regulated by Japan’s Financial Services Agency (FSA), was acquired by Binance in November last year to help strengthen its presence in the region. The exchange will stop all existing services after May 31 until the opening of Binance Japan.
The users of SEBC have been advised to withdraw their holdings before the deadline; otherwise, their assets will be converted to Japanese yen based on the rate as of June 5. Customers who wish to join Binance Japan will have to reapply for account opening and pass the necessary verification requirements. The CZ-spearheaded firm decided to pull out of the Asian nation in 2018 after watchdogs warned that it had been operating without permission. Rumors had circulated that Binance was subject to criminal charges by the FSA; however, CEO Changpeng Zhao dismissed these claims, stating that his organization was in “constructive dialogues” with the relevant agencies.
Binance Japan’s return may draw significant interest from enthusiasts and institutions alike, as the Japanese cryptocurrency market has been growing rapidly over the years, with over 3 million active users in the country. The expansion in Japan is part of Binance’s long-term plan to expand its footprint around the globe.
In conclusion, Binance’s return to Japan is an exciting development for the cryptocurrency industry. As one of the largest exchanges globally, Binance’s entry into the market will provide local customers with products and services that they have been missing since the platform left the market in 2018. With the growth of the cryptocurrency industry in Japan, Binance is well-positioned to capture a substantial share of the market. This decision is yet another example of Binance’s commitment to becoming a truly global player in cryptocurrency.