August 1, 2023 11:55 AM | 1 min read
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Binance Japan is set to fully launch in August and intends to initially list 34 tokens, thereby surpassing any local competitor in terms of token offerings.
The company plans to include BNB (CRYPTO: BNB) in its listing, marking the debut of its native token in Japan, according to crypto news outlet Coinpost.
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Binance confirmed to The Block that new Japanese customers would have access to services such as spot trading, Earn products, and its NFT marketplace.
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Binance founder and CEO Changpeng Zhao expressed in a July video that the crypto exchange has been making efforts to reestablish its presence in the Japanese market.
“It’s fantastic to see Japan being a leader in the Web3 regulatory environment,” Zhao said, praising the nation’s “very clear” crypto regulations from 2017.
In 2023, Japan’s opening-up of crypto listing frameworks as well as the June passing of stablecoin regulations were also positives.
“To that end, Binance is extremely happy to be able to participate in the Japanese market again,” Zhao said, citing the November acquisition of the Sakura Exchange BitCoin (SEBC).
SEBC rebranded itself as Binance Japan Inc. and is regulated by the Japan Financial Services Agency (JFSA). This move follows warnings issued by the JFSA in 2021 against Binance for operating in the country without registration.
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