Binance Japan, the Japanese arm of the globally acclaimed exchange Binance, has unveiled its plans for encrypted asset trading services, set to go live this August. The company aims to make a strong impression in the competitive Japanese market by offering an array of cutting-edge services, according to CoinPost. Binance Japan’s offerings will include cryptocurrency spot trading and crypto asset conversion, ensuring seamless transactions and real-time vending machine-style selling prices for users. However, it’s important to note that the exchange will not provide leveraged trading services in Japan due to stringent regulatory requirements for obtaining a “first-class financial instrument business” license.
Binance Japan to Shake Up Crypto Trading in August with a Game-Changing Launch
The platform boasts an impressive selection of 34 cryptocurrencies available for trading, surpassing the offerings of its main domestic rivals Bitbank (30), GMO Coin (26), and Coincheck (22). Among the supported assets are well-known tokens like BTC, ETC, DOT, QTUM, ALGO, ETH, ADA, ENJ, and more. Notably, Binance Japan will exclusively list Binance’s native exchange token, “Build and Build (BNB),” for the first time in Japan.
In a bid to attract experienced users, Binance Japan is also exploring the addition of other currencies not currently available in the Japanese market. While specifics remain undisclosed, the company assures the public that active preparations are underway. Beyond traditional crypto trading, Binance Japan plans to introduce “Simple Earn,” enabling users to deposit their crypto assets and earn interest in the form of crypto assets. Additionally, they will launch an “NFT Marketplace” to cater to the ever-growing world of non-fungible tokens.
Binance CEO Changpeng Zhao (CZ), speaking at the WebX conference hosted by CoinPost, expressed his excitement about the upcoming launch in Japan, promising a comprehensive range of services starting in August. Binance’s expansion in the region began with the acquisition of Sakura Exchange Bitcoin (SEBC) in November 2022, and since then, they have actively transitioned to the new management system. CZ previously revealed that the cryptocurrency exchange giant has been customizing an exclusive platform for Japan, and the launch is now just around the corner.
With its proactive approach, diverse crypto offerings, and innovative services, Binance Japan is poised to make a significant impact on the Japanese crypto landscape. As the August launch approaches, cryptocurrency enthusiasts and traders eagerly await the grand unveiling of Binance Japan’s trading platform.
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