BNB Makes Debut In Japan As Binance Prepares For Full Launch

Binance Japan is set to fully launch in August and intends to initially list 34 tokens, thereby surpassing any local competitor in terms of token offerings.

The company plans to include BNB BNB/USD in its listing, marking the debut of its native token in Japan, according to crypto news outlet Coinpost.

Binance confirmed to The Block that new Japanese customers would have access to services such as spot trading, Earn products, and its NFT marketplace.

Also Read: CompScience's AI Safety Tech Attracts $10M In VC Funding From Early Tesla Investor

Binance founder and CEO Changpeng Zhao expressed in a July  video that the crypto exchange has been making efforts to reestablish its presence in the Japanese market.

“It’s fantastic to see Japan being a leader in the Web3 regulatory environment," Zhao said, praising the nation's "very clear" crypto regulations from 2017.

In 2023, Japan's opening-up of crypto listing frameworks as well as the June passing of stablecoin regulations were also positives.

“To that end, Binance is extremely happy to be able to participate in the Japanese market again," Zhao said, citing the November acquisition of the Sakura Exchange BitCoin (SEBC).

SEBC rebranded itself as Binance Japan Inc. and is regulated by the Japan Financial Services Agency (JFSA). This move follows warnings issued by the JFSA in 2021 against Binance for operating in the country without registration.

Read Next: Binance's Operations Deemed Unlawful By Nigeria's SEC, Investors Cautioned On Risks

Join Benzinga's Future of Crypto in NYC on Nov. 14, 2023 to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!