- Binance Japan to launch in August with 34 tokens, including BTC and ETH.
- Binance Japan introduces spot trading platform and real-time single selling price exchange.
- Binance Japan does not offer leveraged trading, focuses on compliance.
Binance Japan is making final preparations for its highly anticipated launch in August, as reported by Coinpost, a prominent news platform in Japan. In addition to its native token “Build and Build” (BNB), previously known as Binance Coin, Binance will also showcase a diverse range of 34 tokens, including popular cryptocurrencies such as BTC, ETC, DOT, QTUM, ALGO, ETH, and ADA.
Binance Japan is gearing up to introduce two key services, as reported by Coinpost. The first service entails a cryptocurrency exchange or spot trading platform that enables users to engage in transactions via a matching system. The second service is an exchange that offers a real-time single selling price, akin to a vending machine, incorporating an asset sale or conversion feature.
It is important to mention that Binance Japan will not offer leveraged trading, which entails buying and selling assets multiple times using a margin. Obtaining a “Type 1 Financial Instruments Business” license in Japan to provide leveraged trading services is crucial, as it involves complying with strict requirements and regulations.
After two years since receiving a cautionary notice from the Financial Services Agency (FSA) for operating without appropriate authorization, Binance Japan has successfully commenced onboarding users. It is officially launching its comprehensive suite of services.
Binance’s resurgence was made achievable by acquiring the regulated exchange, Sakura Exchange BitCoin (SEBC), in November 2022. As part of this acquisition, the existing services on SEBC were set to end on May 31. Following this, CEO Changpeng Zhao confidently stated, conveying his expertise in the cryptocurrency industry.
And to that end, Binance is extremely happy to be able to participate in the Japanese market again, from the acquisition of the SEBC platform last November, and we were going to launch the full service in August.
Binance’s return to the Japanese market will introduce new functionalities, including the “Simple Earn (credit crypto assets)” and an “NFT Marketplace.” These services enable users to deposit their crypto assets and earn interest, usually in crypto assets. Additionally, the platform incorporates advanced features like “auto-invest” and “API connectivity” to meet the specific needs of investors and traders, enhancing the overall user experience.
