Binance, the largest virtual currency exchange, acquires Japan's 'Sakura Exchange Bitcoin' and announces re-entry into the Japanese market



Binance, the largest cryptocurrency exchange, has announced that it has acquired Sakura Exchange Bitcoin (SEBC). Along with this, Binance has also announced its re-entry into the Japanese market.

Binance Acquires JFSA Registered Sakura Exchange BitCoin, Committed to Enter Japan Under Regulatory Compliance | Binance Blog
https://www.binance.com/en/blog/ecosystem/binance-acquires-jfsa-registered-sakura-exchange-bitcoin-committed-to-enter-japan-under-regulatory-compliance-1479109563632749072

Notice Regarding Change of Shareholders and New Management Structure - Sakura Exchange Bitcoin Co., Ltd. (SEBC) |
https://sebc.co.jp/22113002_notice/

Binance Re-Enters Japan Market With Sakura Exchange BitCoin Purchase - Bloomberg
https://www.bloomberg.com/news/articles/2022-11-30/binance-re-enters-japanese-market-with-sakura-exchange-purchase

At SEBC's general meeting of shareholders held on November 30, 2022, it was announced that all of SEBC's issued shares were transferred to Binance, and that the company transitioned to a new management structure. SEBC is one of the companies registered as a “ crypto asset exchange service provider ” required to provide exchange services between virtual currency (crypto assets) and fiat currency in Japan, while Binance is a crypto asset exchange service provider. is not registered with

Upon acquiring SEBC, Binance announced that it had acquired 100% of the shares of SEBC, a Japanese cryptocurrency exchange.




Binance has announced that it aims to enter the Japanese market as a crypto asset exchange service provider of the Financial Services Agency. Acquired. We aim to enter the Japanese market in compliance with regulations,' he tweeted, promising to comply with regulations.




Following the acquisition by Binance, Takeshi Chino, general manager of Binance Japan, will become the CEO of SEBC. Chino said of the Japanese market, “As one of the world’s leading economies with a highly developed technology ecosystem, it is already poised to strongly embrace blockchain. We will develop the integrated exchange in a compliant manner for users.We aspire to see Japan play a leading role in cryptocurrencies.'

Binance has already received regulatory approvals in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania and Cyprus.

SEBC CEO Hitomi Yamamoto said, 'In addition to our commitment to prioritizing user protection, Binance's strong compliance system will help create a more compliant atmosphere for Japanese users, which is necessary for future mass adoption. We will help you access key crypto services.”

With the acquisition of SEBC by Binance and its entry into the Japanese market, it has also been announced that new Japanese users will no longer be able to register on Binance.com. Existing users will not be affected and will continue to be able to use Binance.com products and services.

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in Note, Posted by logu_ii