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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Aug 01, 2023 06:35 UTC
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Binance Japan to Launch with 34 Tokens, Including BNB
Binance to launch in Japan with 34 tokens, including "BNB."
Spot trading and real-time prices offered, no leverage trading initially.
Aims to dominate Japanese market and promote crypto adoption.
Binance, the world’s leading cryptocurrency exchange, is gearing up for a highly anticipated launch in the Japanese market this August. In a bid to surpass its domestic rivals, Binance Japan is set to offer an impressive array of 34 tokens, a milestone that includes listing its native token, “Build and Build (BNB),” for the first time in Japan.
This move promises to enhance the accessibility and depth of the Japanese crypto ecosystem.
BNB Comes to Japan
Binance Japan’s upcoming launch will be marked by a historic event as it introduces its native token, “Build and Build (BNB),” to the Japanese market. This move is expected to inject vitality into the Japanese crypto landscape, offering new opportunities for traders and investors.
In an announcement on August 1st, Binance disclosed essential details about its services in Japan. The exchange will introduce a “cryptocurrency exchange (spot trading)” facilitating transactions between users on a trading board, and a “cryptocurrency exchange” that displays real-time selling prices, akin to a vending machine. Although Binance Japan will not initially offer leveraged trading due to strict regulatory requirements for obtaining a “Type 1 Financial Instruments Business” license in Japan, the platform’s diverse offerings are sure to captivate users.
Read More: Binance CEO CZ Reveals Plans for More Stablecoins To Rival USTD
A Plan to Dominate
Armed with an impressive lineup of 34 cryptocurrency tokens, Binance Japan is poised to outshine major domestic competitors like Bitbank, GMO Coin, and Coincheck, which currently handle 30, 26, and 22 tokens, respectively. This market dominance illustrates Binance’s determination to establish itself as the go-to platform for Japanese traders seeking a diverse and dynamic range of assets.
Binance founder and chief executive, Changpeng Zhao, emphasized in a Twitter video in July that re-entering the Japanese market has been a top priority for the exchange. By offering extensive token listings and the inclusion of BNB, Binance Japan aims to become a driving force in promoting cryptocurrency adoption and facilitating seamless trading experiences for Japanese users.
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