According to the official Twitter post, Binance Japan will be launching a crypto assets exchange service, and they will start with a listing of 34 tokens which is more than any other local exchange.
One of these tokens is Binance Smart Chain’s native token, BNB, which will become available to Japanese users for the first time.
After August 14, 2023, customers in Japan who already have global Binance accounts will have the opportunity to begin the migration process.
The cryptocurrency options available for purchase will cover a wide variety of decentralized finance (DeFi) and Web 3-based blockchain game tokens. Some of these options include Solana (SOL), Aster (ASTR), Avalanche (AVAX), Jasmy (JASMY), and Axie (AXS).
As per the statement, Binance will offer new customers in Japan access to services like spot trading, Earn Products, and its NFT marketplace.
However, the exchange made it clear that they will not provide leverage trading, which involves buying and selling assets multiple times using margin.
In a Twitter video posted in July, Chanpeng Zhao, the founder, and CEO of Binance, mentioned that the world’s largest crypto exchange has been making efforts to re-enter the Japanese market.
CZ added, “It’s fantastic to see Japan being a leader in the Web3 regulatory environment.”
In November 2022, Binance made a major announcement regarding its acquisition of Sakura Exchange Bitcoin CO., Ltd. (SEBC), which is a registered exchange under the Financial Services Agency.
After the acquisition, SEBC revealed that all its shares were transferred to Binance Holdings, and they have now implemented a new management system.
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