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- Binance Japan, a subsidiary of the world’s largest cryptocurrency exchange, is expanding its offerings.
- The platform aims to increase its token selection from the current 34 to at least 100 in the near future.
- Binance Japan plans to collaborate with local cryptocurrency exchanges to improve market liquidity.
Binance Japan, the local arm of the world’s largest cryptocurrency exchange, is set to expand its offerings significantly. After launching full services earlier this month, the platform aims to provide its users with access to at least 100 tokens in the near future, tripling its current selection of 34 tokens. This expansion comes as part of Binance’s efforts to enhance its presence in the Japanese market.
To ensure better market liquidity, Binance Japan plans to collaborate with other local cryptocurrency exchanges, fostering a more robust crypto ecosystem in Japan. This move is expected to provide Japanese users with a wider range of options and trading opportunities.
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Binance’s return to the Japanese market follows its acquisition of Sakura Exchange BitCoin in November 2022, which allowed it to come under the regulatory oversight of the Japan Financial Services Agency (JFSA). This re-entry was prompted by previous warnings from the JFSA in 2021, which raised concerns about Binance operating in Japan without proper registration.
With these developments, Binance Japan is poised to play a more significant role in the country’s cryptocurrency landscape, offering a diverse array of services and tokens while complying with local regulations.
