Leading cryptocurrency exchange Binance has expanded its operations to Japan with the official launch of Binance Japan K.K., a new trading platform tailored for the Japanese crypto market.
As announced on Tuesday, Binance Japan opens with support for spot trading of 30+ digital tokens, giving local traders access to more assets than any other exchange in the country.
The launch marks a major milestone for Binance as it establishes a regulated cryptocurrency exchange in Japan for the first time. The move allows Binance to tap into Japan’s growing interest and adoption of blockchain technology.
“By providing a compliant and robust exchange platform in Japan, we aim to contribute to the development of Japan’s digital asset market,” said Binance. “With its pioneering spirit around innovative technologies, Japan is an ideal market to build a sustainable ecosystem for blockchain and cryptocurrencies.”
The launch of Binance Japan highlights the exchange’s global expansion strategy and its efforts to operate localized exchanges that adhere to regional regulatory frameworks. With the new Japanese exchange, Binance can cater directly to one of the world’s largest cryptocurrency trading markets.
Binance Enters Japan Through Acquisition of Local Exchange
The launch of Binance Japan comes after Binance acquired a local Japanese exchange called Sakura Exchange BitCoin (SEBC) in November 2022. The acquisition allowed Binance to establish an initial foothold in the Japanese crypto market by rebranding SEBC into Binance Japan.
Binance announced at the time that the acquisition would pave the way for Binance to operate in Japan through a locally registered entity that complies with regulations. Existing Binance users in Japan will need to migrate to the new Binance Japan platform, pending further instructions.
Last week, Binance CEO Changpeng Zhao unveiled plans for the official Binance Japan launch at a Web3 conference in Japan. He praised Japan’s forward-thinking approach to blockchain innovation and its clear regulatory environment for crypto.
Speaking at the same conference, Japanese Prime Minister Fumio Kishida voiced government support for the growth of Web3 companies in the country. He described Web3 as “part of the new form of capitalism.”
The launch of Binance Japan demonstrates Binance’s strategy of establishing localized crypto exchanges worldwide. By acquiring and rebranding an existing Japanese exchange, Binance can now provide direct access to Japanese traders under proper regulatory oversight.
