Global blockchain services provider Binance today revealed it has acquired Japanese-registered crypto exchange service provider Sakura Exchange BitCoin (SEBC).
With the latest acquisition, Binance enters the Japanese market and also gains a license from the Financial Services Agency (JFSA). The terms of the deal were not disclosed.
Binance has already obtained regulatory approvals and registrations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania and Cyprus. The new Japanese license is the first authorisation the blockchain company secures in East Asia.
Takeshi Chino, general manager of Binance Japan, said:
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. 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.
Hitomi Yamamoto, CEO of SEBC, 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.
Last week, Binance CEO Changpeng ‘CZ’ Zhao confirmed that Binance US will make a new bid to acquire the assets of crypto lender Voyager.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.