On August 1, 2023, Binance made its official entry back into the Japanese market by launching its cryptocurrency exchange. Reports suggest that Japanese residents will have the opportunity to create accounts starting from mid-August. However, their access to Binance’s global platform will be limited after November 30 due to the exchange’s current inability to provide derivative services in the region. Nevertheless, starting from December 1, they will be able to engage in trading on the newly introduced Japanese platform.
The decision for Binance to enter the Japanese market was initially announced in April when they acquired the Sakura Exchange BitCoin [SEBC]. Despite the initial launch date being set for June, founder Changpeng Zhao confirmed that the launch had been postponed to August.
Binance’s New Venture in Japan: 34 Cryptocurrencies Await
The cryptocurrency exchange’s primary objective is to present Japanese users with an extensive array of tokens, opening up numerous investment possibilities. This diverse selection of tokens aims to encourage users to diversify their cryptocurrency portfolios.
Binance’s listing will encompass major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), and Cardano (ADA). In addition to these, the exchange will also include meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). Users will also have access to a broad 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). Furthermore, Binance will offer its native token BNB on the platform.
By providing a wide variety of 34 tokens, the platform distinguishes itself as the most comprehensive exchange in the country. Binance solidifies its position as a prominent player, surpassing major local competitors such as Bitbank, GMO Coin, and Coincheck.