As reported by Wu Blockchain, customers of the newly launched Binance Japan platform will have access to 34 different digital currencies, including XRP, SHIB and DOGE.
This is consistent with Japan Virtual and Crypto Assets Exchange Association's data and a recent Binance announcement. Other cryptocurrencies listed aside from XRP, SHIB and DOGE include BTC, ETC, DOT, QTUM, ALGO, ETH, XLM and 28 others.
According to Coinpost, Binance Japan, which is expected to launch in August, will list 34 tokens, including BTC, ETC, DOT, QTUM, ALGO, ETH, ADA, etc., and it is the first time in Japan to list BNB, which exceeds the number of major domestic competitors Bitbank and GMO, Coincheck,…— Wu Blockchain (@WuBlockchain) August 1, 2023
According to the Bloomberg news website, Binance has formally launched a crypto trading platform in Japan that complies with local regulations, the latest move in its attempts to reenter the Asian market.
Residents can apply for accounts beginning in mid-August. They will be able to trade on the new platform on Dec. 1.
Binance purchased Sakura Exchange BitCoin in November of last year and announced in May of this year that it was developing a platform that would completely comply with local regulations.
This comes as Binance takes steps to broaden its Asian reach, including in South Korea and Thailand. However, the biggest cryptocurrency exchange is under heavy regulatory scrutiny in some other countries around the world.
Elsewhere, recent reports have emerged that the U.S. Securities and Exchange Commission (SEC) asked Coinbase to cease trading in all cryptocurrencies other than Bitcoin before using the exchange.
Coinbase CEO Brian Armstrong reportedly told the Financial Times that the SEC made the recommendation before taking legal action against the company in June for failing to register as a broker.
The SEC's action listed 13 cryptocurrencies on Coinbase's platform as securities, claiming that the exchange violated the regulator's mandate by providing them to consumers.