Binance Enters Japanese Market with Acquisition of SEBC Exchange
Leading cryptocurrency exchange firm, Binance, announced it had acquired 100% of Japanese-registered crypto exchange Sakura Exchange BitCoin (SEBC). Binance revealed the SEBC acquisition on its blog on Wednesday.
Binance takes a big step in its commitment to “enter Japan under regulatory compliance” by fully taking over the licensed Japanese exchange. The take-over has made Binance a Japan Financial Services Agency (JFSA) regulated entity.
SEBC is a Japanese-regulated exchange that offers brokerage services to its customers. They allow users to buy and sell cryptocurrencies and have 11 trading pairs already on their service. The pairs include BTC, ETH, XRP, and eight other cryptocurrencies traded against JPY.
SEBC CEO Hitomi Yamamoto, speaking to the press, stated the exchange’s delight in being acquired by Binance, one of the world’s leading crypto-asset exchange service providers. He also noted that in their efforts to prioritize user protection, Binance’s strong compliance system would provide a more compliant atmosphere for users in Japan and help them access key crypto services needed for mass adoption in the future.
Binance Continues its Worldwide Drive for Crypto Adoption
Binance, like most competitors, has already penetrated other top countries and acquired regulatory authorization. It looks set to get its first license in East Asia with the SEBC acquisition, having already achieved that in France, Italy, Spain, Abu Dhabi, Poland, and six other countries.
Binance CEO Changpeng Zhao has shown his commitment to driving crypto adoption worldwide. His recent meetings with Irakli Garishbashvili, the Prime Minister of Georgia, and Edi Rama, the Prime Minister of Alabama, have all shown his desire to push crypto adoption further.
Binance’s acquisition of SEBC further pushes the exchange into Asia and propagates crypto awareness and adoption. Takeshi Chino, general manager of Binance Japan, reiterated the importance of the deal to crypto adoption in an interview he granted to the press. He stated that with Japan being one of the biggest economies in the world with a high-developing tech ecosystem, the country would play a key role in the future of crypto adoption.