Binance Japan acquires Japanese crypto exchange for expansion! Japan’s financial services regulator was one of many that issued a warning last year that Binance should not be allowed to operate on its market.
Binance has purchased Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange regulated by the Financial Services Agency (FSA), for an undisclosed amount, according to a blog post on Wednesday. With this acquisition, the largest crypto exchange in the world by trading volume enters the Japanese market, adding it to the list of important countries where it currently has regulatory authority.
Recently, Binance received a license as a crypto-asset service provider in Cyprus, having already received similar licenses in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai and Kazakhstan. The FSA was one of several regulators that issued a warning last year that Binance was not allowed to operate on its market.
Binance Japan, Tokyo-based SEBC offers trading of the Japanese yen against 11 digital assets, including BTC, ETH, LTC, and ADA.