Binance, the most prominent blockchain ecosystem and crypto infrastructure provider in the world, recently made the announcement that it had acquired one hundred percent of Sakura Exchange BitCoin (SEBC), a Japanese-registered cryptocurrency exchange service provider. Binance will now be able to operate in the Japanese market as a Japan Financial Services Agency (JFSA) regulated firm after completing this transaction.
While Binance did not provide any details regarding the terms of the transaction, it is considered an important step for Binance to achieve its goal of mainstreaming cryptocurrency around the world. Binance is striving to support a responsible and orderly global environment for cryptocurrencies by contributing to the provision of regulated services through Sakura Exchange BitCoin.
Hitomi Yamamoto, CEO of SEBC, said: “We are honored and delighted to make this announcement with Binance, one of the world’s leading crypto asset exchange service providers. On top of our effort to prioritize user protection, Binance’s strong compliance system will contribute to building a more compliant atmosphere for users in Japan and help them access key crypto services needed for mass adoption in the future.”
Playing A Key Role In The Future Of Crypto Adoption
In addition to providing its customers with brokerage services, the SEBC is a cryptocurrency exchange that is registered with the JFSA to provide consultancy services. At the moment, the cryptocurrency exchange in Tokyo offers 11 different crypto trading pairings, including BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.
Takeshi Chino, general manager of Binance Japan, said: “The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake. We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto.”
In the past, regulatory permits or authorizations have been obtained by Binance in different countries including France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus. Binance has now obtained its first license to operate in East Asia as a result of its acquisition of SEBC. This acquisition further demonstrates Binance’s commitment to playing a pivotal role in the continued mainstream acceptance of cryptocurrencies in the future.
