SNEAK PEEK
- Binance Japan launches with a market-leading 34 cryptocurrencies, including BNB.
- Unique features include “Simple Earn,” NFT Marketplace, and API connectivity.
- Binance Japan avoids leveraged trading due to strict Japanese regulations.
Binance Japan Co., Ltd. is gearing up for its much-anticipated launch this August. As per the news, on August 1, the company revealed service details, including an extensive list of 34 cryptocurrencies. Notably, this launch will introduce Binance’s native token, “Build and Build (BNB)”, to the Japanese market for the first time.
Moreover, reports show that Binance Japan outshines its key domestic rivals with the breadth of its listings. It surpasses Bitbank’s 30 brands, GMO Coin’s 26 brands, and Coincheck’s 22 brands. Consequently, the new exchange will lead the domestic market in terms of the number of issues handled at launch.
In addition to offering spot trading services, Binance Japan also plans to attract seasoned users with its varied offerings. This includes tokens related to decentralized finance (DeFi) and Web3, which are blockchain-based games. The list features names like Solana (SOL), Aster (ASTR), Avalanche (AVAX), Jasmy (JASMY), and Axie (AXS).
バイナンスJP
・立ち上げから取扱銘柄数1位に
→上場規定の関係で最速で上場できる他取引所の取扱銘柄を優先、多少時間のかかる新規銘柄も積極的に追加しそう(上場ルールは改良されてきているので戦略的に可能)
・レバレッジ取引はなし
→一種金のライセンスを取る意向か次第(ライセンスの問題) pic.twitter.com/KSSj6TYEA9— 各務貴仁|CoinPost (@coinpost_kagami) August 1, 2023
However, the company has opted to exclude leveraged trading from its services, a choice undoubtedly rooted in the strict regulatory requirements in Japan. To offer such a service, obtaining a “Type 1 Financial Instruments Business” license is mandatory, a task that is far from straightforward.
Contrastingly, the firm plans to offer unique features like “Simple Earn,” an opportunity for users to earn interest on their crypto deposits. Moreover, it will host an NFT Marketplace, along with auto-invest and API connectivity features, catering to diverse investor and trader needs. With this comprehensive service offering, Binance Japan is set to reshape the Japanese cryptocurrency market landscape from August onward.
On the other hand, Changpong Zhao (CZ), CEO of Binance Holdings, first revealed the decision to establish a strong foothold in Japan at the WebX conference on July 25. This move followed Binance’s Sakura Exchange Bitcoin Co., Ltd. (SEBC) acquisition in November 2022. All SEBC shares have since transitioned to Binance Holdings, indicating a new era of management.
In conclusion, as Binance Japan ushers in this exciting chapter, it’s clear that its strategic listing decisions are designed to make a big splash in the country’s crypto market. The stage is set for robust competition and the potential introduction of new tokens not yet listed on other exchanges.