Binance Acquired 100% Of Sakura Exchange BitCoin (SEBC)

On 30 November 2022, Binance officially announced it has fully acquired the Japanese-registered crypto exchange service provider, Sakura Exchange BitCoin (SEBC), leading to a Japanese market entry, as a Japan Financial Services Agency (JFSA) regulated entity. 

Before the acquisition of the Japanese-registered crypto exchange service provider was made known publicly, it should first and foremost be made known that Binance had announced new users in Japan will not be able to sign up for Binance.com in Japan, and it is in effect from 2022-11-30 08:00 (UTC).

SEBC is a Japan Financial Services Agency-registered crypto exchange that offers consultation and brokerage services. The Tokyo-based exchange currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.

New Zealand, Kazakhstan, Poland, Lithuania, Cyprus, France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, and the United Arab Emirates have all been granted Binance regulatory certifications or authorizations. By offering Japanese-regulated services through SEBC, Binance now has its first license in East Asia thanks to the acquisition.

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.

Takeshi Chino, general manager of Binance Japan

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

Coincu News