Binance Japan To Bring 100 Supported Cryptocurrencies
According to reports, the Japanese division of Binance will soon offer trading services for new virtual currencies.
The cryptocurrency powerhouse returned to Japan this summer after leaving in 2018 owing to regulatory issues.
According to a report from Bloomberg, Binance Japan will soon support 100 cryptocurrencies on its platform.
Tsuyoshi Chino, a company spokesman, stated that the organisation would work with other Japanese exchanges to secure liquidity and provide best market practises.
Binance plans to return to Japan by acquiring Sakura Exchange BitCoin for an undisclosed sum. This acquisition enables the Japanese branch of the trading venue to provide crypto services, five years after leaving the country due to domestic watchdog issues. Binance Japan initially supported 34 digital assets, including Bitcoin, Ethereum, Binance Coin, Cardano, Dogecoin, Polygon, and Litecoin. This is the largest number of tokens offered by any crypto exchange in Japan. Clients must comply with new KYC rules by mid-August.
(With inputs from Shikha Singh)
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