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Binance acquired Sakura Exchange BitCoin (SEBC), a Japanese cryptocurrency exchange regulated by the country’s Financial Services Authority (FSA).
Binance has bought Sakura Exchange BitCoin (SEBC)
On November 30, the official website of Binance announced the acquisition of 100% Sakura Exchange BitCoin (SEBC), a registered cryptocurrency exchange service provider in Japan.
Terms of the transaction were not disclosed. By providing Japanese-regulated services through SEBC, Binance aims to support a responsible global environment for cryptocurrencies.
Binance has received regulatory approval or authorization 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 an important role in the future of crypto adoption. As one of the world’s leading economies with a highly developed technology ecosystem, it is poised for a strong adoption of blockchain. We will actively work with regulators to develop our hybrid exchange in a way that is relevant to local users. We are very much looking forward to helping Japan play a leading role in the crypto space.”
Information about SEBC
SEBC is a cryptocurrency exchange registered with the JFSA that provides consulting services to clients in addition to brokerage services. The Tokyo-based exchange currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, SEE/JPY, MONA/JPY, ADA/ JPY, XYM/JPY , and COT/JPY.
Hitomi Yamamoto, CEO of SEBC also shared:
“We are honored and excited to make this announcement with Binance, one of the world’s leading crypto asset exchange service providers. In addition to our efforts to prioritize user protection, Binance’s robust compliance system will contribute to a stronger compliance atmosphere for users in Japan and help them access cryptocurrency services. important element needed for future mass adoption.”
See also: Binance Labs Strategically Invests In NGRAVE To Increase Crypto Autonomy
