Binance, the world’s largest cryptocurrency exchange, on Tuesday announced the launch of Binance Japan KK, which offers 34 coins, making it the country’s largest exchange for token offerings.
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- At launch, Binance’s native token, BNB, will be launched for the first time in the country. Other tokens listed on the exchange include Bitcoin, Ether, Ada, Algorand, Atom, Avalanche, Solana, and Dogecoin.
- Binance Japan will initially offer spot trading services, revenue generation through Binance Earn, and access to the exchange’s irreplaceable token marketplace.
- “By offering regulated exchange services in Japan, we hope to promote the development of the Japanese digital asset market. “The country’s drive for technological innovation and growing interest in blockchain technology make it a fantastic place to build a resilient and sustainable Web3 ecosystem,” Binance said in a blog post announcement.
- The launch of Binance’s Japanese subsidiary marks the exchange’s re-entry into the country, two years after it received a warning from the local financial regulator for failing to comply with registration requirements. Binance acquired the locally regulated platform Sakura exchange BitCoin, which was renamed Binance Japan Inc., in November last year.
- The announcement comes at a time when the world’s largest stock exchange is facing increased regulatory scrutiny around the world. In July, the company had to withdraw its crypto license application in Germany, a month after losing its euro banking partner. Its US subsidiary Binance.US was recently sued by the Securities and Exchange Commission for alleged securities violations.
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