Binance Acquires Japanese Crypto Exchange Sakura Exchange BitCoin

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2022-12-03 15:10:41

Continuing the work of “pacifying the world”, Binance has just completely acquired Japanese crypto exchange Sakura Exchange BitCoin.

SEBC merger makes it easy for Binance to enter Japan

An announcement from Binance on the afternoon of November 30, 2022 said that it has completed the acquisition of the Sakura Exchange BitCoin (SEBC) cryptocurrency exchange – currently operating in the country of cherry. SEBC is an exchange regulated under the Japan Financial Services Agency (JFSA), providing services such as client consulting and brokerage. This Tokyo-based exchange supports 11 Yen trading pairs namely BTC, ETH, BCH, XRP, LTC, ETC, XEM, MONA, ADA, XYM and COT.

With this 100% acquisition, Binance will have legal status to operate in the Japanese market after facing many legal difficulties in this country.

Binance’s next work will be to build a separate exchange branch for the Japanese market, similar to Binance US for the US. Binance Japan General Manager Takeshi Chino confirmed:

“Japan is an important market for the future of the crypto industry. As one of the world’s leading economies with an innovative technology ecosystem, Japan is a fundamental market that helps make crypto stronger.

We will actively work with the regulator to build a legal exchange for Japanese users. We are ready to accompany this country on the path to becoming the leading crypto market in the world.”

Following the completion of the transaction, Binance Japan has suspended the opening of new accounts for Japanese citizens to focus on the new trading platform. Existing users are completely unaffected. This is aimed at limiting Japanese users’ exposure to the international Binance platform, paving the way for the emergence of its own trading platform.

Outside of Japan, Binance is currently licensed to operate legally in France, Italy, Spain, Abu Dhabi, Dubai, Bahrain, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus.

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