- Binance Enters Japan With Acquisition of Regulated Crypto Exchange Sakura.
- The transaction’s terms weren’t made public.
- SEBC is a JFSA-registered cryptocurrency exchange that provides customer counseling services.
Cryptocurrency exchange operator Binance announced on Wednesday that it has acquired Sakura Exchange BitCoin (SEBC). This is a cryptocurrency trading service that is registered in Japan in order to grow in the Asian nation.
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Through this acquisition, Binance enters the Japanese market, as a Japan Financial Services Agency (JFSA) regulated entity.
It is important to note that the transaction’s terms weren’t made public. Through SEBC, Binance provides services that are governed by Japanese law. This is in an effort to promote a trustworthy cryptocurrency ecosystem worldwide.
New Zealand, Kazakhstan, Poland, Lithuania, Cyprus, France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, and the United Arab Emirates have all been granted Binance regulatory certifications or authorizations. Binance now has its first license in East Asia thanks to the acquisition of SEBC.
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’s already poised for strong blockchain uptake. We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto.
Takeshi Chino, general manager of Binance Japan.
SEBC is a JFSA-registered cryptocurrency exchange that provides customer counseling services. Additionally, it provides brokerage services, according to a blog post on Binance. BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY are the 11 trading pairings that the Tokyo-based exchange now accepts.
Hitomi Yamamoto, CEO of SEBC, said: “We are honored and delighted to make this announcement with Binance. It is one of the world’s leading crypto asset exchange service providers. On top of our effort to prioritize user protection, Binance’s strong compliance system will contribute to building a more compliant atmosphere for users in Japan. Further, It will help them access key crypto services needed for mass adoption in the future.”
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