Leading cryptocurrency exchange Binance has set its sights on capturing the Japanese market, aiming to establish its dominance over the past failed attempts of other significant players like FTX and Coinbase. Despite strict regulatory challenges that forced Binance to exit Japan in 2018, the exchange is making a bold return, driven by its recent acquisition of the Sakura Exchange Bitcoin trading platform.

Under the leadership of CEO Chino Takeshi, Binance is gearing up to expand its services in Japan and play a pivotal role in the widespread adoption of cryptoassets in the country. This move follows the integration of Sakura users into the Binance platform, demonstrating a step towards cementing its presence in the “Land of the Rising Sun.”

A defining moment came when Binance announced that, starting December, it will no longer accept Japanese residents on its global site. Instead, the focus will be on Binance Japan, which aims to list an impressive “100 tokens” on its platform. This ambitious goal is significant considering Japan’s traditionally stringent token listing policy, where coins undergo scrutiny by a self-regulating panel and final approval rests with the Financial Services Agency.

In recent months, Japan’s regulatory landscape has experienced a positive shift, with Tokyo easing regulations to foster growth in the crypto and Web3 sectors. Taking advantage of this favorable environment, Binance Japan has already expanded its offerings, adding 13 new cryptocurrency pairings. Notable additions include Near Protocol (NEAR), EOS, Kakao’s KLAY coin, and Hedera Hashgraph (HBAR), all of which received approval from the Japan Virtual and Cryptoassets Exchange Association (JVCEA).

Binance’s reach extends beyond Japan, as it actively expands into other markets as well. In Thailand, through its joint venture Gulf Binance with Gulf Innova, a division of Gulf Energy Development, the exchange is preparing to make a significant presence. The Securities and Exchange Commission (SEC) of Thailand has granted approval, designating Gulf Binance as a regulated digital asset operator, allowing the cryptocurrency exchange to soon establish operations in the country.

Gulf Binance, emphasizing security and SEC compliance, will provide digital asset exchange and broker services for cryptocurrencies and digital tokens. This expansion highlights Binance’s dedication to growing its presence globally and seizing new opportunities in emerging markets.

As Binance positions itself as a dominant player in the Japanese market and expands its operations globally, its commitment to providing secure and compliant services remains paramount. By offering an extensive selection of tokens and embracing regulatory changes, Binance aims to lead the way in the widespread adoption of cryptoassets, fostering growth and innovation in the ever-evolving world of decentralized finance.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.