Binance has obtained Japan’s regional crypto exchange, Sakura Exchange BitCoin (SEBC).
The exchange has acquired its first license in East Asia, with the purchase of SEBC.
Binance, the leading cryptocurrency exchange, has entered the Japanese crypto market with the takeover of a regional trading platform, Sakura Exchange BitCoin (SEBC). According to the recent announcement from Binance, it has acquired 100% of the Osaka-based SEBC exchange, which is authorized by Japan’s Financial Services Agency (FSA).
#Binance has acquired 100% of Sakura Exchange BitCoin (SEBC), the Japanese-registered crypto exchange service provider.https://t.co/GSPYxQvamg
— Binance (@binance) November 30, 2022
With the acquisition of SEBC, Binance has attained its first license in East Asia.
Binance to Widen Its Services
By entering into Japan’s crypto domain, Binance seeks to foster a responsible global environment for cryptocurrencies.
Takeshi Chino, general manager of Binance Japan stated:
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.
Takeshi added that Binance will actively collaborate with regulators to create the combined exchange for local users in a compliant manner. Furtherly, the exchange will assist Japan in taking the lead in the cryptocurrency industry.
Sakura Exchange BitCoin is a JFSA-registered crypto exchange that provides consultation services to its customers in addition to brokerage services. The platform currently supports 11 trading pairs.
Hitomi Yamamoto, CEO of SEBC expressed:
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.
Moreover, apart from Japan, Binance has already obtained regulatory approvals or authorizations from France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus.
