Binance Japan, the local branch of the world’s largest cryptocurrency exchange, is gearing up for substantial expansion. Since its full-service launch earlier this month, the platform is on a trajectory to increase its token offerings significantly.
The goal is to grant users access to a minimum of 100 tokens in the near future, tripling the current selection of 34. This expansion strategy aligns with Binance overarching objective to strengthen its presence in the Japanese market.
To ensure enhanced market liquidity, Binance Japan is devising partnerships with other domestic cryptocurrency exchanges, fostering a more resilient crypto ecosystem within Japan. This collaborative move is poised to present Japanese users with a broader spectrum of choices and trading prospects.
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Binance’s reentry into the Japanese market stems from its acquisition of Sakura Exchange Bitcoin in November 2022, which brought it under the regulatory purview of the Japan Financial Services Agency (JFSA).
This return was catalyzed by prior admonitions from the JFSA in 2021, expressing concerns about Binance’s operation in Japan without proper registration.
In light of these developments, Binance Japan is positioned to assume a more prominent role in Japan’s cryptocurrency landscape. It aims to offer a diverse array of services and tokens while adhering to local regulatory frameworks.