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Binance enters Japan with purchase of Sakura Exchange Bitcoin

Through this acquisition, Binance enters the Japanese market, as a Japan Financial Services Agency regulated entity
By Goh Thean Eu   
December 5, 2022

Binance has acquired Japan’s Sakura Exchange Bitcoin for an undisclosed sum, giving the world’s largest cryptocurrency exchange a foothold in the world’s third largest economy.

Sakura Exchange Bitcoin is a Japanese crypto exchange. The acquisition marks Binance’s first licence to operate a crypto bourse in East Asia, the Cayman Island-based exchange says in a statement on December 2.

Binance will be regulated by the Japan Financial Services Agency.

According to Takeshi Chino, general manager of Binance Japan, the Japanese market will play a key role in the future of cryptocurrency adoption.

“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,” he says in the statement.

There were US$4.95 trillion worth of trades on Binance in the first ten months of 2022, far ahead of the $961 billion on OKX, the second largest crypto exchange in the world.

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