• April 23, 2024

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Binance Purchases a Japan-based Crypto Exchange

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Changpeng Zhao-led crypto exchange Binance has acquired Sakura Exchange BitCoin (SEBC), a cryptocurrency exchange registered with the Japan Financial Services Agency.

According to the press release on the acquisition:

“With this acquisition, Binance is entering the Japanese market as a regulated entity.”

Binance Japan General Manager Takeshi Chino has noted that the country’s economy is “already ready for the active implementation of the blockchain.” He has announced the company’s intention to cooperate with regulators and develop the exchange in accordance with local requirements. He has added:

“We are committed to helping Japan take a leading role in the crypto industry.”

SEBC offers 11 trading pairs as well as brokerage and advisory services to its clients.