Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, announced Wednesday it has acquired 100 percent of Sakura Exchange BitCoin (SEBC), the Japanese-registered crypto exchange service provider.
Through this acquisition, Binance enters the Japanese market, as a Japan Financial Services Agency (JFSA) regulated entity, Binance said in a statement.
The terms of the transaction were not disclosed. By offering Japanese-regulated services through SEBC, Binance aims to support a responsible global environment for cryptocurrencies.
Binance has secured regulatory approvals or authorizations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania and Cyprus. The acquisition of SEBC marks Binance’s first license in East Asia.
“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,
“We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto,” said Takeshi Chino, general manager of Binance Japan.
SEBC is a JFSA-registered crypto exchange that offers its customers consultation services in addition to its brokerage service. The Tokyo-based exchange currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.
“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,” said Hitomi Yamamoto, Chief Executive Officer of SEBC.
Binance is the world’s leading blockchain ecosystem, with a product suite that includes the largest digital asset exchange. Its mission is to be the infrastructure service provider in crypto.
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