Binance, one of the leading cryptocurrency exchanges globally, has announced plans to expand its token offerings in Japan. The Japanese division of Binance revealed that it would be listing 13 new tokens for spot trading and crypto-earning services, significantly increasing its token selection in the country. This move positions Binance as the largest platform with the most extensive token selection in Japan, offering users a diverse range of investment opportunities.
Increased Token Offerings and Asset Eligibility
With the addition of these 13 new tokens, Binance Japan’s total token offerings will rise from 34 to 47. The newly listed tokens include prominent crypto assets such as Hedera Hashgraph (HBAR), Near Protocol (NEAR), Optimism Network (OP), Immutable X (IMX), and Arbitrum (ARB). Other assets to be listed include ApeCoin (APE), Klatyn (KLAY), Lisk (LSK), The Graph (GRT), and Render Token (RNDR). Binance Japan has secured the eligibility of these tokens through assessments conducted by the Japan Virtual and Crypto Assets Exchange Association (JVCEA), ensuring compliance with regulatory standards.
Takeshi Chino, the CEO of Binance Japan, expressed the company’s commitment to the growth and development of Japan’s blockchain ecosystem. Chino stated, “This is another big step towards our ambition to offer 100 tokens in Japan. Binance is fully committed to helping Japan take a leading role in Web3 adoption. We will continue striving to enrich our service offerings in Japan by leveraging our global expertise and our leading blockchain ecosystem.”
Binance’s expansion in Japan comes after the company re-entered the market as a regulated firm. By acquiring Sakura Exchange BitCoin (SEBC), a registered crypto exchange service provider, Binance complied with the stringent regulatory requirements set by the Japan Financial Services Agency (JFSA). This regulatory compliance ensures that users in Japan can confidently trade and invest in cryptocurrencies while maintaining high levels of security and protection.
Binance’s decision to expand its operations in Japan coincides with the departure of major players like Kraken and Coinbase earlier this year. Japan has established itself as one of the few nations globally that maintains strict crypto regulations. This regulatory framework has played a crucial role in safeguarding customer funds and protecting investors from the potential risks associated with the cryptocurrency industry.
Binance’s increased token offerings and commitment to Japan’s Web3 adoption align with the growing demand for cryptocurrencies and blockchain technology in the country. By providing Japanese users with access to a diverse range of tokens, Binance facilitates investment diversification and potentially opens up new investment opportunities. With an extensive token selection, Binance Japan aims to foster innovation and contribute to the overall development of Japan’s blockchain ecosystem.
Binance’s expansion in Japan is a significant milestone in the company’s efforts to become a leading cryptocurrency exchange in the country. With an increased token selection and a focus on Web3 adoption, Binance aims to empower Japanese users and contribute to the growth of the local blockchain industry. As cryptocurrency regulations continue to evolve, Binance’s regulatory compliance ensures a safe and secure trading environment for Japanese users.
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