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Binance Japan has announced the list of 34 cryptocurrencies that will be available for trading when it launches in August. The platform, which was created after Binance acquired Sakura Exchange BitCoin last November, aims to comply with local regulations and offer a safe and secure environment for crypto enthusiasts in Japan.
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
The list of 34 cryptocurrencies to be listed include BTC, ETH, BNB, ADA, ALGO, ASTR, ATOM, AVAX, AXS, BAT, BCH, CHZ, DAI, DOGE, DOT, ENJ, ETC, IOST, JASMY, LINK, LTC, MATIC, MKR, ONT, QTUM, SAND, SHIB, SOL, TRX, XEM, XLM, XRP, XTZ, and ZIL.
According to Binance CEO Changpeng Zhao, who spoke via video at a conference in Tokyo on Tuesday, July 25, Binance Japan will offer a variety of services and features to cater to the needs and preferences of the Japanese crypto community. These include spot trading, margin trading, futures trading, staking, lending, savings, and more. Zhao also said that Binance Japan will support multiple fiat currencies and payment methods, as well as provide customer support in Japanese.
Binance Japan GM Speaks on Future Plans
Binance Japan’s General Manager, Takeshi Chino, also revealed that the company could launch stablecoins in Japan in the future. Stablecoins are digital tokens that are pegged to a fiat currency or a basket of assets and aim to provide stability and liquidity in the volatile crypto market. Chino said that his company could leverage the new stablecoin law that came into effect in June, which allows licensed banks, registered money transfer agents, and trust companies to issue stablecoins in Japan.
Binance Japan is expected to attract a large number of users and boost the growth and adoption of crypto in Japan. The country is one of the most advanced and friendly jurisdictions for crypto in the world, with a clear and comprehensive legal framework and a vibrant and diverse crypto ecosystem. The exchange will join other major players in the Japanese crypto market, such as BitFlyer, Coincheck, Liquid, and GMO Coin.
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