Binance acquires Sakura Exchange, rebrands as "Binance JAPAN," set to officially launch in June.

Table of Contents

Binance Japan Compliant Exchange: Originating from the Acquisition of Sakura Exchange BitCoin

Binance announced on November 30th last year that it had acquired 100% of the shares of Sakura Exchange BitCoin SEBC, a Japanese cryptocurrency exchange platform service provider. This move will allow Binance to come under the regulation of the Japanese Financial Services Agency (JFSA).

Binance will provide compliant services in Japan through SEBC, with the terms of the deal remaining undisclosed. This marks Binance's first operation license in East Asia.

Headquartered in Tokyo, SEBC supports 11 trading pairs:

• BTC/JPY

• ETH/JPY

• BCH/JPY

• XRP/JPY

• LTC/JPY

• ETC/JPY

• XEM/JPY

• MONA/JPY

• ADA/JPY

• XYM/JPY

• COT/JPY

Binance Japan Expected to Officially Launch in June

According to an announcement from SEBC exchange, domestic trading services in Japan will cease from May 31st, and the launch of "Binance JAPAN," a temporary name, will follow after June.

Furthermore, user registration information on SEBC will not be retained, and users will need to reapply for account opening and undergo identity verification upon the resumption of operations.

Note: Binance International previously received a warning from Japanese regulators:

Japanese Financial Services Agency's Sudden Announcement: Warning Binance for Providing Services to the Public in Japan Without a License