- Binance’s exclusive platform for Japan, an expansion from its acquisition of SAKURA Exchange BitCoin, supports trading for a diverse portfolio of 34 tokens including popular cryptocurrencies like SHIB, XRP, ADA, SOL, and DOGE.
- Existing users with global Binance accounts residing in Japan will be informed of the migration process starting from August 14, 2023.
Binance, a global leader in cryptocurrency exchange services, has made a groundbreaking entry into the Japanese market with its exclusive platform, Binance Japan. Catering to a diverse user base, the platform hosts a wide array of cryptocurrencies such as Shiba Inu, XRP, Cardano (ADA), Solana (SOL), Dogecoin (DOGE), and 29 other prominent digital currencies.
A Milestone for Japan’s Crypto Ecosystem
This significant development marks a new chapter in Japan’s embrace of Web3, with Binance providing an unparalleled crypto trading experience to Japanese users. The new platform originated from Binance’s acquisition and transformation of the local licensed cryptocurrency exchange service provider, SAKURA Exchange BitCoin (SEBC), rebranded as Binance Japan Inc. in November 2022.
Binance Japan’s offerings are meticulously crafted to meet the diverse needs of its users. Available products include Spot Trading and Earn products, allowing users to trade a carefully curated list of tokens such as Shiba Inu and XRP. Additionally, the Convert feature lets users effortlessly swap between 32 different tokens, including Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), XRP, and Cardano (ADA).
Spot Trading and Migration Details
Spot Trading on the platform currently supports 32 tokens. The only exceptions are JasmyCoin (JASMY) and NEM (XEM), which are not included in the Convert feature.
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Existing Binance users residing in Japan, who hold accounts on the global platform, will be given detailed information about the migration process after August 14, 2023. Meanwhile, new users can deposit both Japanese yen and cryptocurrencies, with yen withdrawals commencing from August 20.
This pioneering venture into the Japanese market reflects Binance’s dedication to bolstering the growth of the Japanese digital asset sector. With Japan’s reputation as a technological frontrunner and its burgeoning interest in blockchain, the country presents an ideal environment for fostering a resilient crypto ecosystem.
Note: The platform’s spot trading feature supports BNB, marking the token’s first introduction in Japan. The presence of BNB is significant, given its central role in the Binance ecosystem as a native token that can be used for various purposes such as reducing trading fees, participating in token sales, and more. Its debut in Japan underlines the expansion and acceptance of Binance’s ecosystem in the country.
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