Binance is planning to list 34 tokens in Japan, the most
offerings among its rivals, after reopening its services in the country this
month. The cryptocurrency exchange is also planning to offer its native token,
BNB, for the first time in Japan.
In November last year, Binance
acquired the Japanese
cryptocurrency exchange Sakura Exchange Bitcoin, paving the way for the
exchange to re-enter Japan. This step was aimed at enabling Binance to operate
legally in the country after several warnings by the Japanese regulator that the exchange was
operating illegally.
According to the Japanese media publication Coinpost,
Binance will initially offer spot trading services. However, the exchange will
not offer leveraged trading services, which requires a ‘Type 1 Financial
Instruments Business’ license with more strict standards.
With 34 tokens listed
for trading, Binance will rank as the largest cryptocurrency exchange in Japan
based on the number of offerings. Its rivals, Bitbank, GMO Coin, and Coincheck,
offer 30, 26, and 22 tokens, respectively, according to CoinPost’s survey. Some
of the tokens expected to be listed on Binance Japan include Solana (SOL), Avalanche
(AVAX), and Axie Infinity (AXS).
Besides that,
cryptocurrency users in the country will access Binance Earn, a program that
allows users to earn interest on their crypto deposits.
Additionally, the exchange
