Binance Japan is gearing up for a substantial expansion in its token offerings, announcing the imminent listing of 13 new tokens on its platform. With this move, the exchange aims to solidify its position as a major player in the Japanese cryptocurrency market, boasting the highest number of listed tokens in the country.
The roster of newly announced tokens includes a diverse array of cryptocurrencies, ranging from well-established names like EOS and Decentraland to emerging players like Hedera Hashgraph and Near Protocol. These additions are scheduled to go live on November 27, further diversifying Binance Japan’s portfolio, which already stands at an impressive 34 tokens.
The 13 new tokens are Hedera Hashgraph (HBAR), Near Protocol (NEAR), Optimism (OP), Immutable X (IMX), Arbitrum (ARB), The Graph (GRT), Render Token (RNDR), Decentraland (MANA), EOS (EOS), GALA (GALA), ApeCoin (APE), Klaytn (KLAY) and Lisk (LSK), Binance Japan said Wednesday. These listings are scheduled for Nov. 27.
A key highlight emphasized by Binance Japan is that all 13 tokens are already listed on other registered exchanges within Japan. Moreover, they fall under the category of eligible tokens for a simplified assessment process by the Japan Virtual and Crypto Assets Exchange Association, streamlining their integration onto the Binance Japan platform.
Takeshi Chino, the general manager of Binance Japan, expressed enthusiasm about the expansion, stating, “This is another big step towards our ambition to offer 100 tokens in Japan. We will continue striving to enrich our service offerings in Japan by leveraging our global expertise and our leading blockchain ecosystem.”
The strategic push for a broader range of offerings comes after Binance’s acquisition of Sakura Exchange BitCoin in November 2022, culminating in the launch of Binance Japan in August. This re-entry into the Japanese market was a significant move for Binance, especially following Japan’s tightened regulations around cryptocurrency exchanges.
The exchange’s assertive expansion aligns with its broader vision to cater to the evolving needs of the Japanese crypto community. Leveraging their global experience and extensive blockchain ecosystem, Binance Japan aims to establish itself as a frontrunner in the country’s crypto landscape.
However, this move also underscores the intensifying competition among cryptocurrency exchanges vying for dominance in Japan. While Binance Japan’s aggressive listing strategy might give it an edge, other exchanges are likely to respond in kind, intensifying the battle for market share and user adoption.
Source: https://azcoinnews.com/binance-japan-to-list-13-additional-tokens.html
