Binance has acquired the Sakura Exchange BitCoin (SEBC), the Japan-registered crypto exchange service provider. The terms of the deal were not disclosed.
#Binance has acquired 100% of Sakura Exchange BitCoin (SEBC), the Japanese-registered crypto exchange service provider.https://t.co/GSPYxQvamg
— Binance (@binance) November 30, 2022
“This acquisition positions Binance in Japan as a regulated entity,” the statement said.
Takeshi Chino, General Manager of Binance Japan, noted that the country’s economy is “already ready for active blockchain adoption.” He said the company intends to work with regulators and grow the exchange in line with local requirements.
“We aim to help Japan take a leading role in the crypto industry,” emphasized Chino.
SEBC supports 11 trading pairs and offers clients brokerage and advisory services.
In 2022, Binance received approvals from authorities Bahrain, Kazakhstan,New Zealand,Dubai and the free zone Abu Dhabi.
The exchange also holds work permits from regulators Cyprus, Spain, France and Italy.
Earlier in September, Binance filed an application for a license in Japan, four years after abandoning plans to open a headquarters in the country, according to Bloomberg.
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