Binance recently announced the acquisition of 100% of the SEBC (Sakura Exchange BitCoin). The development allows Binance to enter Japan as a JFSA (Japanese Financial Service Agency) regulated platform.
As the leading crypto infrastructure and blockchain ecosystem provider, Binance holds immense market control. Thus, the platform’s entry into the Japanese market is expected to assist the local crypto projects as well.
For this reason, a lot of cryptocurrency enthusiasts in the region searched for Binance reviews to assess its services. The development, according to Binance’s most recent statement, would allow the company to create a responsible environment for cryptocurrencies in the region.
No terms regarding the transaction have been disclosed until now. Before this, Binance had successfully gained regulatory approvals in Italy, France, Spain, Abu Dhabi, Bahrain, Kazakhstan, Cyprus, New Zealand, Poland, Dubai, and Lithuania.
Thus, the development marks Binance gaining its first license in East Asia. Takeshi Chino, Binance Japan’s general manager, talked about the development. According to Takeshi, Japan will play a crucial part in the modern crypto industry.
As a leading economy, Japan boasts a well-developed technological ecosystem. According to Takeshi, the region is already poised to adopt and advance blockchain technology.
SEBC acts as a JFSA-approved cryptocurrency exchange that offers crypto consultation and brokerage services. The platform used to offer 11 crypto trading pairs to users, namely:-
BTC/JPY, BCH/JPY, ETH/JPY, LTC/JPY, XRP/JPY, ETC/JPY, MONA/JPY, XEM/JPY, ADA/JPY, COT/JPY, and XYM/JPY. Given the stature Binance has acquired globally, the platform is expected to grow exponentially after the deal.
Source: https://www.cryptonewsz.com/binance-acquires-sakura-exchange-bitcoin-to-enter-the-japanese-market/