Binance, the world's largest crypto exchange by trading volume, has entered the Japanese market with the acquisition of Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange regulated by the country's Financial Services Agency (FSA), for an undisclosed sum.
With this acquisition, Binance has officially expanded its operations into the Japanese market, after coming under fire from Japan's financial services regulator last year for not having a license to operate in the country.
Binance recently received authorization as a crypto asset service provider in Cyprus, having previously secured similar licences in Italy, Spain, Bahrain, Abu Dhabi, France Kazakhstan and Dubai.
The acquisition of SEBC marks Binance’s first license in East Asia, adding it to the now substantial list of countries in which it has some degree of regulatory authorization.
Tokyo-based SEBC offers trading of the Japanese yen against 11 digital assets, including BTC, ETH, LTC and ADA.