Binance enters Japanese market with acquisition of Sakura Exchange BitCoin

Asian Tech Press (Nov 30) -- Binance entered the Japanese market with the acquisition of Sakura Exchange BitCoin (SEBC), a legal crypto exchange service provider in Japan.

Binance, one of the world's largest cryptocurrency exchanges, announced on Tuesday that it has acquired 100% of crypto exchange service provider Sakura Exchange BitCoin (SEBC), officially entering the Japanese market under the regulation of the Financial Services Agency (FSA) in Japan.

Headquartered in Tokyo, SEBC is a FSA-registered crypto exchange that mainly provides crypto asset management services.

The parties did not disclose the terms of the acquisition deal.

Binance said in the statement that it will provide compliant services in Japan through SEBC, aiming to "support a responsible global environment for cryptocurrencies."

The exchange is active in obtaining licenses worldwide and has previously secured regulatory approvals or authorizations in France, Italy, Spain, Dubai, New Zealand, Kazakhstan, Poland and other countries. With the acquisition of SEBC, Binance obtained the license to operate its business in East Asia for the first time.

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