Binance Japan, having recently launched its comprehensive services, has revealed its ambitious plan to significantly expand its token offerings.
According to a Bloomberg report, the exchange aims to provide a minimum of 100 tokens on its platform in the near future, a threefold increase from its current selection.
In an online briefing, a representative from Binance Japan stated the exchange’s intention to collaborate with other local crypto exchanges in Japan.
This partnership seeks to enhance liquidity within the market, as reported by Japanese crypto media outlet Coinpost. The news caught the attention of Changpeng Zhao, Binance’s Founder and CEO, who retweeted the Coinpost article.
As the Japanese counterpart of the world’s largest cryptocurrency exchange, Binance Japan currently lists 34 tokens on its platform.
The services offered include spot trading, access to Earn products, and participation in its NFT marketplace. These services empower customers in Japan to engage more comprehensively with the crypto ecosystem.
In a pivotal move, Binance acquired full ownership of Sakura Exchange BitCoin in November 2022. This acquisition paved the way for regulatory compliance under the jurisdiction of the Japan Financial Services Agency (JFSA).
The re-entry into the Japanese market follows warnings issued by the JFSA in 2021, highlighting concerns about Binance’s operation within the country without proper registration.