Binance enters Japanese market with Sakura Exchange BitCoin deal

Nov 30 (Reuters) – Cryptocurrency change operator Binance mentioned on Wednesday it acquired Sakura Exchange BitCoin (SEBC), a crypto change service registered in Japan, to broaden into the Asian nation.

The phrases of the transaction weren’t disclosed by Binance.

Through the acquisition, Binance will be capable of function within the Japanese market as an entity regulated by the Japan Financial Services Agency (JFSA).

Takeshi Chino, common supervisor of Binance Japan, mentioned, “We will actively work with regulators to develop our mixed change in a compliant method for native customers.”

Reporting by Urvi Dugar in Bengaluru

Our Standards: The Thomson Reuters Trust Principles.

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