Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, announced that it has acquired 100% 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.
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.
Takeshi Chino, General Manager of Binance Japan, said: “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.”
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.