Binance Japan Set To Redefine Crypto Trading Landscape With Exciting August Launch

Key Points:

• Binance Japan to launch crypto trading services in August with 34 supported cryptocurrencies.
• No leveraged trading due to strict Japanese regulations.
• Consideration for adding more currencies and introducing “Simple Earn” and “NFT Marketplace” features.

Binance Japan, the Japanese subsidiary of Binance, has officially disclosed the details of its upcoming encrypted asset trading services scheduled to go live this August. The company has also revealed its initial list of supported cryptocurrencies, signaling its determination to make a mark in the competitive Japanese market, according to CoinPost.

Binance Japan‘s services will include cryptocurrency spot trading and cryptoasset conversion, offering users seamless transactions between each other and the convenience of a real-time vending machine-style selling price. However, it’s noteworthy that the company has decided against providing leveraged trading services in Japan, primarily due to the rigorous regulatory requirements associated with obtaining a “first-class financial instrument business” license in the country.

The exchange will boast an impressive selection of 34 cryptocurrencies available for trading on its platform, surpassing the offerings of its main domestic rivals Bitbank (30), GMO Coin (26), and Coincheck (22). Among the supported assets are popular tokens like BTC, ETC, DOT, QTUM, ALGO, ETH, ADA, ENJ, and many others. Interestingly, Binance Japan’s exclusive listing of Binance’s own exchange token, “Build and Build (BNB),” marks the first time it will be available for trading in Japan.

In a bid to attract experienced users, Binance Japan is also exploring the addition of other currencies that are not currently listed in the Japanese market. While the specific currencies remain undisclosed, the company assures the public that they are actively working on it and are in the preparation stage.

Beyond traditional crypto trading services, Binance Japan plans to roll out “Simple Earn,” allowing users to deposit their cryptoassets and earn interest in the form of cryptoassets. Additionally, they will introduce an “NFT Marketplace” where users can engage in the ever-growing world of non-fungible tokens.

Speaking at the WebX conference hosted by CoinPost, Binance CEO Changpeng Zhao (CZ) expressed his excitement about the forthcoming launch in Japan, promising a full range of services starting in August. The company’s expansion in the region began in November 2022 when it acquired Sakura Exchange Bitcoin (SEBC) and has since been actively transitioning to the new management system.

CZ previously disclosed that the cryptocurrency exchange giant is preparing to provide its entire services on a new platform customized exclusively for Japan. The launch is set for this month.

Binance Japan’s proactive approach, diverse crypto offerings, and innovative services are poised to make a significant impact on the Japanese crypto landscape. With their August launch just around the corner, cryptocurrency enthusiasts and traders are eagerly awaiting the grand unveiling of Binance Japan’s trading platform.

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