Binance secures Japanese regulatory approval through purchase of Sakura Exchange BitCoin.
Binance Comes to Japan
Binance has purchased the crypto exchange service Sakura Exchange BitCoin, thereby securing regulatory approval to operate in Japan.
The terms of the deal were not disclosed.
“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,” said Binance Japan general manager Takeshi Chino in a post on the Binance Blog. “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.”
Binance, the world’s largest cryptocurrency exchange, has actively sought approval from regional and national regulators in its quest to expand across the globe.
In addition to applying directly for approval, purchasing an already-licensed entity, such as Sakura in Japan, is one strategy that Binance has employed in other jurisdictions, including Indonesia and Malaysia.
“We are honored and delighted to make this announcement with Binance, one of the world’s leading crypto asset exchange service providers,” Sakura CEO Hitomi Yamamoto said. “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 and help them access key crypto services needed for mass adoption in the future.”
What Is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
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