Binance, the world’s largest crypto exchange, has acquired Sakura Exchange BitCoin (SEBC), a regulated Japanese platform, and will resume full services for Japanese users in August. The deal allows Binance to officially return to Japan, where it had previously restricted its operations due to regulatory issues. Binance plans to offer spot trading for up to 30 digital assets on the new platform.
Binance’s CEO, Changpeng Zhao, praised Japan’s innovation-friendly and Web3-oriented regulatory environment at the WebX conference. He also shared his personal experience as a developer in Japan and expressed his optimism about the country’s potential in the Web3 sector. Japan’s Prime Minister Fumio Kishida has also signaled his intention to promote Web3 as part of a new form of capitalism.
History of Binance:
Changpeng Zhao, a renowned software engineer, investor, and entrepreneur, founded Binance in 2017. The exchange launched in July and became one of the world’s biggest crypto exchanges in just six months.
Binance is mainly a crypto-to-crypto trading platform—where users can trade between two different cryptocurrencies—and it has some of the lowest fees for cryptocurrency transactions. It also has high liquidity and offers discounts to users who use BNB—the exchange’s own cryptocurrency token.
TLDR points:
Binance acquires SEBC, a regulated Japanese crypto platform, and will restart full services in Japan in August.
Binance’s CEO lauds Japan’s Web3-friendly regulations and potential at the WebX conference.
Japan’s Prime Minister aims to push Web3 as part of a new form of capitalism.
