Binance Launches Crypto Exchange in Japan

Sahana Kiran
Source – Unsplash

Binance officially launched its cryptocurrency exchange in Japan on August 1, 2023, re-entering the Japanese market. According to recent reports, Japanese residents will be able to create accounts from mid-August. However, their access to Binance’s global platform will be restricted after November 30. This is because the exchange is currently not permitted to offer derivative services in the region. Nevertheless, they will have the option to start trading on the new Japanese venue beginning December 1.

Binance’s entry into the Japanese market was first announced in April when the Sakura Exchange BitCoin [SEBC], a platform acquired by Binance. Although the initial launch date was set for June, founder Changpeng Zhao confirmed that the launch would take place in August.

Also Read: Binance Japan To Debut in August: CZ Confirms

Binance Japan to debut with 34 crypto assets

The crypto exchange aims to provide a comprehensive range of tokens to Japanese users, offering them numerous investment opportunities. This diverse selection will urge users to diversify their cryptocurrency portfolios.

Binance will include major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), and Cardano (ADA) in its listing. Additionally, meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) will also be part of the offering. The exchange will also provide a wide range of decentralized finance (DeFi) and Web 3-based blockchain-based game tokens, such as Solana (SOL), Aster (ASTR), Avalanche (AVAX), Jasmy (JASMY), and Axie (AXS), for users to choose from. In addition, the exchange will be offering its native token BNB.

With the platform offering a diverse selection of 34 tokens, it positions itself as the exchange with the most extensive offering in the country. This establishes Binance as a leading player, outshining major local competitors like Bitbank, GMO Coin, and Coincheck.

Also Read: Binance acquires Japanese Crypto Exchange while restricting User Registrations