Binance Officially Launches at Japan

Binance Japan, part of the Binance group, is set to open its platform to users in Japan, two years after being told by regulators it was operating there without permission. From August 14, existing Japanese users can switch to the new local platform.

This platform will provide access to spot trading , earning products, and a marketplace for non-fungible tokens (NFTs). Users will have the chance to trade in 34 tokens, including BNB from the Binance Smart Chain, available in Japan for the first time.

Binance took over the regulated crypto exchange known as Sakura Exchange BitCoin (SEBC) in November of last year. Notably, other exchanges like Coinbase and Kraken recently shut down their operations in Japan, blaming market conditions. But this has created a competitive advantage for Binance.

Meanwhile, at the WebX conference in Tokyo last week, Japanese officials indicated they were planning more policies related to Web3.