Binance Enters Japanese Market With Sakura Exchange BitCoin Deal
Cryptocurrency exchange operator Binance said on Wednesday it acquired Sakura Exchange BitCoin (SEBC), a crypto exchange service registered in Japan, to expand into the Asian country.
Himanshu S.
10:02 30th Nov, 2022
Adoption
The terms of the transaction were not disclosed by Binance.
Through the acquisition, Binance will be able to operate in the Japanese market as an entity regulated by the Japan Financial Services Agency (JFSA).
#Binance has acquired 100% of Sakura Exchange BitCoin (SEBC), the Japanese-registered crypto exchange service provider.https://t.co/GSPYxQvamg
— Binance (@binance) November 30, 2022
Takeshi Chino, general manager of Binance Japan, said, “We will actively work with regulators to develop our combined exchange in a compliant way for local users.”
