Binance acquires SEBC, a regulated crypto exchange in Japan
Binance acquired a Japanese exchange. It is Sakura Exchange Bitcoin, SEBC.
The company is regulated by the Financial Services Agency. Binance, the world’s largest exchange by trading volume, is not standing still despite the fall of cryptocurrencies and the collapse of other similar services, such as FTX. Now it has announced the acquisition of a regulated cryptocurrency exchange in Japan.
This would be a safer gateway for Binance in Japan, given that in mid-2021, the country’s Financial Services Agency sent a warning to the crypto exchange giant for operating without having a formal registration.
Binance today reported the acquisition of 100 percent of Sakura Exchange BitCoin (SEBC), the registered cryptocurrency exchange service provider in Japan. Through this acquisition, Binance becomes compliant and enters the Japanese market, as an entity regulated by the Japan Financial Services Agency (JFSA).
SEBC is a JFSA-registered crypto exchange that offers its clients consulting services in addition to its brokerage service. The Tokyo-based exchange currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY and COT/JPY.