Binance Enters Japan as It Acquires Regulated Cryptocurrency Exchange Sakura

Binance is the largest cryptocurrency exchange in the world, and since the collapse of FTX, just about every exchange has been under the threat of collapse.

It is important to note that Binance is among the major institutional investors who have a stake in the purchase of Twitter by Tesla CEO Elon Musk. Meanwhile, Binance has also shared PoR certificated based on Merkle Tree.

In the past, Binance kept working on its expansion in every field. It also introduced a local blockchain named Binance Smart Chain to support its native cryptocurrency, BNB. The latest media news has revealed that Binance has acquired a regulated cryptocurrency exchange in Japan.

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Binance exchange has reportedly acquired a 100% stake in a regulated cryptocurrency exchange hailing from Japan. With its latest acquisition, the cryptocurrency enterprise is going to attempt to enter into the crypto sector of Japan.

In the latest tweet, Binance’s CEO claimed that the exchange was making preparations for its debut in the Japanese markets. The exchange is also taking the regulated path for its Japanese crypto entry.

The Japanese exchange named Sakura Exchange Bitcoin or SEBC is now under new ownership. The acquired exchange is also JFSA (Japan Financial Services Agency) compliant.

Binance Gets First East Asian License

A correspondent from Binance told the media that SEBC is the first East Asian license for Binance. He further exclaimed that the exchange is looking forward to expanding in other East Asian regions. It is important to note that Binance wrapped up its plan for opening HQ in Japan after disapproval from FSA in 2018.

The cryptocurrency exchange also faced similar difficulties in Malaysia. Binance is also exploring the Singaporean DeFi market with an 18% stake in a local exchange. There are also reports about a possible partnership with UK payment network Paysafe. Japan is an important G20 member that has commented on the matter of crypto regulations, and recently it has made its crypto trading laws more lenient.

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