Binance, the world’s largest cryptocurrency exchange, announced the launch of Binance Japan K.K. on Tuesday, offering 34 coins, making it the country’s largest exchange by token offerings.
- The launch debuts Binance’s native token, BNB, for the first time in the country. Other tokens listed on the exchange include Bitcoin, Ether, Ada, Algorand, Atom, Avalanche, Solana and Dogecoin.
- Binance Japan will initially offer spot trading services, yield generation through Binance Earn and access to the exchange’s non-fungible token marketplace.
- “By offering regulated exchange services in Japan, we’re hoping to bolster the development of the Japanese digital-asset market. The country’s drive for technological innovation and growing interest in blockchain technology make it a fantastic place to build a robust and sustainable Web3 ecosystem,” Binance said in a blog post announcement.
- The launch of Binance’s Japan subsidiary marks the exchange’s reentry into the country two years after receiving a warning from the local financial regulator for failing to comply with registration requirements. Binance acquired local regulated platform Sakura Exchange BitCoin in November last year, which has been rebranded to Binance Japan Inc.
- The announcement comes as the world’s largest exchange faces increased regulatory scrutiny globally. It was forced to withdraw its crypto license application in Germany in July, a month after losing its euro banking partner. Its U.S. affiliate, Binance.US, was recently sued by the Securities and Exchange Commission for alleged securities violations.
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