➡️ Binance will fully roll out services on the new platform to the Japanese market in August, Binance CEO Changpeng Zhao announced via video at a conference in Tokyo on Tuesday.
➡️ After five years out of the Japanese market, crypto exchange #Binance has begun the process of establishing a new fully regulated subsidiary in the country. The move comes after the acquisition of Japanese cryptocurrency exchange Sakura Exchange Bitcoin (SEBC) in November 2022.
As part of the agreement, #SEBC will cease providing the current service on May 31 and reopen as #Binance #Japan in the next few weeks. Users of the Japanese exchange's global platform will have to register with the new unit. The migration will be available after August 1, 2023 and will include a new identity verification process to comply with local requirements.
➡️ Binance previously revealed that the remaining balance on the SEBC exchange will automatically be converted into Japanese Yen and transferred to users' bank accounts starting in June.
