Binance Japan to Offer 100 Tokens on its Platform, Aims for Better Liquidity
Binance Japan, which recently launched its full services, plans to expand its token offerings on its platform. The company aims to offer at least 100 tokens in the short term, three times more than its current offering. To ensure better liquidity in the market, Binance Japan plans to collaborate with other local crypto exchanges in the country. This move was reported by Japanese crypto media outlet Coinpost, and Changpeng Zhao, the founder and CEO of Binance, retweeted the article.
Currently, Binance Japan lists 34 tokens and provides various services to its customers in Japan, including spot trading, Earn products, and its NFT marketplace.
Re-Entry into Japan
In November 2022, Binance acquired Sakura Exchange BitCoin, enabling it to be regulated by the Japan Financial Services Agency. This acquisition allowed Binance to re-enter the Japanese market after the JFSA issued warnings against the exchange for operating without registration in the country.
Key Points:
- Binance Japan plans to offer at least 100 tokens on its platform in the short term.
- The company aims to collaborate with other local crypto exchanges in Japan to improve liquidity in the market.
- Binance Japan currently lists 34 tokens and provides various services to its Japanese customers.
- In November 2022, Binance acquired Sakura Exchange BitCoin, allowing it to be regulated by the Japan Financial Services Agency.
- The re-entry into Japan follows warnings issued by the JFSA against Binance for operating without registration.
Hot Take:
Binance Japan’s plan to expand its token offerings and improve liquidity in the market shows its commitment to serving the crypto community in Japan. By collaborating with other local exchanges, Binance Japan aims to provide a wider range of options to its customers. The acquisition of Sakura Exchange BitCoin demonstrates Binance’s efforts to comply with regulatory requirements and regain trust in the Japanese market. This move positions Binance Japan as a key player in the country’s crypto industry.
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