In a significant development, the world’s largest cryptocurrency exchange has introduced a specialized trading platform exclusively for the Japanese crypto market. The newly launched platform provides users access to an extensive range of 34 tokens for spot trading, setting a new benchmark in Japan’s crypto exchange landscape.
The move comes after the exchange’s earlier decision to suspend its global platform for Japanese users. The dedicated platform, known as Binance Japan, fully complies with local regulations, ensuring a seamless and compliant experience for Japanese crypto enthusiasts. Starting August 1, 2023, users can easily transition to the new platform and explore its wide array of offerings.
Notably, Binance Japan also introduces the highly sought-after $BNB token to users in Japan, making it available for the first time. This addition is expected to generate significant interest among local investors.
Binance Japan platform fully complies with local regulations
Binance Japan’s establishment involved the acquisition of SAKURA Exchange BitCoin, a licensed local crypto exchange service provider, back in November 2022. Following the acquisition, the business underwent a rebranding and transformation, culminating in the creation of the dedicated platform now open to Japanese traders and investors.
As Japan embraces the digital revolution, its proactive approach to regulating the crypto industry has turned it into an increasingly favorable space for crypto firms and investors. Notably, the country’s introduction of a 30% tax break for companies issuing cryptocurrencies has further fueled the growth of the crypto ecosystem in Japan.
With the specialized crypto platform now firmly established, the Japanese market is set to undergo a transformative shift, providing users with an unparalleled array of tokens and cutting-edge services, solidifying Binance’s commitment to contributing significantly to Japan’s evolving role in the global crypto landscape.