Binance enters Japanese market through Sakura Exchange Bitcoin acquisition

Leading crypto exchange Binance has acquired Japanese exchange Sakura Exchange Bitcoin (SEBC), gaining a foothold in the Japanese market.
In a November 30 statement, Binance did not reveal the terms of transaction. It said only that the company aims to support a responsible environment for cryptocurrencies through SEBC, which is a licensed operator in Japan.
At a shareholders’ meeting held on the same day, SEBC decided to transfer all shares to Binance (AP) Holdings Limited and appoint Takeshi Chino (Representative Director) and Leon Foong (Director) as new directors. Hitomi Yamamoto, a former representative director, will become a director without representative rights.
SEBC is registered as a “crypto asset exchanger” under the jurisdiction of the Financial Services Agency and the Finance Bureau. SEBC is one of the 31 crypto asset exchanges authorized to operate in Japan, as of October 31. The company currently handles 11 crypto asset pairs: BTC, ETH, BCH, XRP, LTC, ETC, XEM, MONA, ADA, XYM, COT, and Japanese yen.
Binance has received regulatory approvals and licenses in Europe and Middle Eastern countries, but the acquisition of SEBC “marks its first license in East Asia,” according to the company.
Regarding Binance’s entry into the Japanese market, Bloomberg News Agency reported in September that the company was considering registering as a crypto asset exchange operator. The Financial Services Agency had twice previously issued warnings to Binance for operating as an “unregistered” crypto asset exchanger in Japan.
The Sandbox invests US$1.7m in Hong Kong firm to build metaverse
RTFKT to launch Clone X Forging Season One
NEO TOKYO CLASH event gives Shibuya crossing cyberpunk twist
Netherlands, Switzerland and Lithuania the world’s most ‘metaverse-ready’ nations
Web3 technologies help revitalize Japan’s rural regions: Prime Minister Fumio Kishida
Game studio Murasaki B.V. raises 1.5 million euros in seed round
The Sandbox set to open Alpha Season 3
Japanese university starts issuing NFT certificates
Sake producer Asahi Shuzo to release Dassai-themed NFTs along with limited-edition sake
Meta rolls out cross-platform NFT posting on Facebook and Instagram
UAE’s Sharjah to launch metaverse city
DMM.com to launch ‘Kanpani Girls’ as first blockchain game
Art group teamLab’s NFT project explores nature of blockchain
NEO TOKYO CLASH event gives Shibuya crossing cyberpunk twist
Sake producer Asahi Shuzo to release Dassai-themed NFTs along with limited-edition sake
The Sandbox invests US$1.7m in Hong Kong firm to build metaverse
Former SMAP member Shingo Katori donates NFT proceeds to support para-sports
RTFKT to launch Clone X Forging Season One
Netflix K-drama Extraordinary Attorney Woo launches NFTs to raise autism awareness
Japanese university starts issuing NFT certificates
DMM.com to launch ‘Kanpani Girls’ as first blockchain game
Art group teamLab’s NFT project explores nature of blockchain
NEO TOKYO CLASH event gives Shibuya crossing cyberpunk twist
Former SMAP member Shingo Katori donates NFT proceeds to support para-sports
UAE’s Sharjah to launch metaverse city
Sake producer Asahi Shuzo to release Dassai-themed NFTs along with limited-edition sake
Netflix K-drama Extraordinary Attorney Woo launches NFTs to raise autism awareness
RTFKT to launch Clone X Forging Season One
Puma launches first metaverse experience and NFTs tied to limited edition sneakers
Meta rolls out cross-platform NFT posting on Facebook and Instagram