Binance plans to first list 34 tokens in Japan as it re-enters the market: report

Quick Take

  • Binance Japan, expected to launch full services in August, plans to initially list 34 tokens — the most offerings among domestic exchanges, Coinpost reported.

Binance Japan, which is expected to launch fully in August, plans to initially list 34 tokens — meaning it would instantly offer more tokens than any domestic rival, according to local crypto media outlet Coinpost.

Coinpost reported today that Binance also plans to list BNB, making its native token available for the first time in Japan.

In a statement shared with The Block, Binance said that new customers in Japan can gain access to services including spot trading, Earn products and its NFT marketplace.

Changpeng Zhao, founder and chief executive of Binance, said in a Twitter video in July that the world’s largest crypto exchange has been trying to re-enter the Japanese market.

“It’s fantastic to see Japan being a leader in the Web3 regulatory environment,” Zhao said. “Japan has very clear regulations from 2017 with crypto exchange regulations, and more recently this year with the opening-up of crypto listing frameworks as well as in June the passing of the stablecoin regulations.” 

Zhao added, “To that end, Binance is extremely happy to be able to participate in the Japanese market again from the acquisition of the SEBC platform last November, and we’re gonna launch the full service in August.”

Japan re-entry

In November 2022, Binance acquired 100% of Sakura Exchange BitCoin — paving the way for it to be regulated by the Japan Financial Services Agency.

As part of this new chapter, SEBC has changed its business name to Binance Japan Inc., according to the statement.

The re-entry came after the JFSA issued warnings in 2021 against Binance, saying that the exchange was operating in the country without registration.

Binance did not immediately respond to The Block’s request for comment on upcoming token listings in Japan.

(Updates to add Binance's statement)

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.