Bitcoin News and Finance
Binance Japan to Launch With 34 Listed Cryptocurrencies Skip to main content

Binance Japan to Launch With 34 Listed Cryptocurrencies

Binance Japan to Launch With 34 Listed Cryptocurrencies

Binance, which is preparing to launch its new Japanese platform in August, will offer users the opportunity to trade 34 coins, local crypto media reported. Besides major cryptocurrencies such as bitcoin and ether, Binance’s own token will also be among the listed digital assets.

Binance to Restore Crypto Trading in Japan With More Coins Than Major Competitors

Binance Japan, a subsidiary of the world’s largest crypto exchange by daily trading volume, will launch with 34 listed tokens, according to the Japanese crypto news outlet Coinpost. On Aug. 1, the company shared details about the services it plans to provide later this month.

The initial offerings will include bitcoin (BTC), ether (ETH), and bitcoin cash (BCH), as well as XRP. Binance’s token Build and Build (BNB), formerly Binance Coin, will be listed for the first time in Japan, the report pointed out.

The number of promised cryptocurrencies exceeds those traded on the platform’s major domestic competitors such as Bitbank (30), GMO Coin (26), and Coincheck (22), which would make Binance Japan the country’s top exchange by supported digital coins.

Binance’s Japanese platform will start operations with spot trading and will not offer leverage trading at launch. To provide the latter, the company would need to first obtain a “Type 1 Financial Instruments Business” license which comes with strict requirements.

Decentralized finance (defi) and Web3 tokens are included as well and Binance Japan will consider listing in the future tokens that are currently not supported by other domestic exchanges. It will also provide access to Simple Earn, its crypto deposit accounts, and the Binance NFT Marketplace.

In a video address to the Webx conference in Tokyo last week, Binance founder and CEO Changpeng Zhao (CZ) said that the exchange will offer full services in Japan through a new platform after announcing earlier it was discontinuing services for Japanese customers on its global platform.

After warnings from Japanese regulators that it was operating without the necessary authorization, in November 2022, Binance acquired Sakura Exchange Bitcoin (SEBC), which is registered with and regulated by Japan’s Financial Services Agency. Japanese users will be able to migrate to the new platform operated by Binance Japan this month.

The positive development for in Japan comes amid heightened regulatory pressure on the exchange in other jurisdictions. In North America, Binance was sued by the U.S. securities and derivatives regulators and left the Canadian market due to its uncertain regulatory environment.

In Europe, Binance withdrew its license applications or canceled its registrations in several countries, including the Netherlands, Germany, Cyprus, and the U.K. Meanwhile, the company has been turning its attention to new markets. For example, it launched a regulated exchange in Kazakhstan in June.

What do you think about Binance’s reentry into the Japanese crypto market? Tell us in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory