Binance Secures Japan License by Acquiring Sakura Exchange BitCoin
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November 30, 2022 – Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, announced it has acquired 100% of Sakura Exchange BitCoin (SEBC), the Japanese-registered crypto exchange service provider. Through this acquisition, Binance enters the Japanese market, as a Japan Financial Services Agency (JFSA) regulated entity.
The terms of the transaction were not disclosed. By offering Japanese-regulated services through SEBC, Binance aims to support a responsible global environment for cryptocurrencies.
Binance has secured regulatory approvals or authorizations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania and Cyprus. The acquisition of SEBC marks Binance’s first license in East Asia.
Takeshi Chino, general manager of Binance Japan, said: “The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake. We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto.”
SEBC is a JFSA-registered crypto exchange that offers its customers consultation services in addition to its brokerage service. The Tokyo-based exchange currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.
Hitomi Yamamoto, CEO of SEBC, said: “We are honored and delighted to make this announcement with Binance, one of the world’s leading crypto asset exchange service providers. On top of our effort to prioritize user protection, Binance’s strong compliance system will contribute to building a more compliant atmosphere for users in Japan and help them access key crypto services needed for mass adoption in the future.”
Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, Binance is dedicated to increasing the freedom of money for users. It offers an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good initiatives, investment and incubation, decentralization and infrastructure solutions, and much more. For more information, visit: https://www.binance.com.
SEBC is a crypto asset exchange service provider and as of November 2022, is the only intermediary specialist agency in the country registered by Japan’s Financial Services Agency. SEBC offers services to support crypto asset management, not only for users who are experienced with crypto asset transactions but also for those who are beginners. SEBC aims to provide a seamless user experience by simplifying complicated transactions and procedures. SEBC’s key specialties are agency service and reserve fund service. For more information, visit: https://sebc.co.jp.
Takeshi Chino Biography
Takeshi Chino joined Binance as general manager of Binance Japan in July 2022, and he will work collaboratively with regulators, policymakers, and industry leaders. His focus will be to develop business opportunities for Binance and grow and expand the Firm’s operations in Japan in a responsible and compliant manner. In 2021, he served as the Vice Chairman of the Japan Virtual Currency Exchange Association (JVCEA) and a board member of the Japan Cryptocurrency Business Association (JCBA). Mr. Chino joined Binance in from Kraken Japan, where he was Managing Director and Head of Japan, and was instrumental in successfully obtaining Kraken’s JFSA registration. Prior to that, he held roles at PwC Japan, Tokyo Stock Exchange, and Japan Securities Clearing Corporation. He is a graduate of Keio University and the Said Business School, University of Oxford.
This press release is published on BitPinas: Binance Secures Japan License by Acquiring Sakura Exchange BitCoin
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