<p>Binance, the world’s largest cryptocurrency exchange, is gearing up to re-enter the Japanese market with a bang on August 14. According to a<a href="https://coinpost.jp/?p&#61;475193" rel="noopener noreferrer nofollow"> report</a> published by local crypto media outlet Coinpost, Binance Japan is set to immediately list an impressive 34 tokens.</p><p>The move will put Binance ahead of its domestic rivals, as the offering will be the most extensive in terms of the selection of tokens made available to Japanese customers.</p><h2 id="header-0">BNB token offering</h2><p>In addition to that, Binance intends to make its native token, BNB, available in Japan for the first time. Exchange tokens have proven to be controversial in recent times. In November 2022, FTX’s reliance on their native token FTT caused a run on the exchange which Binance started once it started to sell off the token. Similar<a href="https://twitter.com/otteroooo/status/1603576109139841024?s&#61;20" rel="noopener noreferrer nofollow"> concerns</a> have been expressed ever since about a similar reliance within Binance relative to its BNB token.</p><p>The expansion into Japan will likely prove a tonic for Binance, given the difficulties it has experienced in other markets recently. Regulatory pushback has<a href="https://twitter.com/Travis_Kling/status/1684210297546981378" rel="noopener noreferrer nofollow"> forced</a> Binance out of markets such as Germany, Belgium, the Netherlands, and Cyprus over the course of the past three months.</p><p>The company has been actively working to comply with Japan’s regulatory environment. In a Twitter video<a href="https://twitter.com/binance/status/1683885315558191113" rel="noopener noreferrer nofollow"> posted</a> in July, Changpeng Zhao (CZ), Binance’s Founder and CEO, expressed his excitement about re-entering the Japanese market. He praised Japan’s clear and progressive approach to crypto regulations, citing the well-established framework that dates back to 2017, as well as recent developments, including the opening up of crypto listing frameworks and the passing of stablecoin regulations in June.</p><h2 id="header-1">Roadmap to market re-entry</h2><p>Binance’s journey back into Japan started in November 2022 when it acquired 100% ownership of Sakura Exchange BitCoin (SEBC). The acquisition paved the way for Binance to be regulated by the Japan Financial Services Agency (JFSA). As part of this move, SEBC underwent a name change, rebranding itself as Binance Japan Inc. The company then<a href="https://medium.com/&#64;coinness.gl/binance-introduces-dedicated-trading-platform-in-japan-4d529851fe14" rel="noopener noreferrer nofollow"> announced</a> in May its plans to re-enter the Japanese market.</p><p>The re-entry comes after the JFSA had previously issued warnings in 2021 against Binance for operating in the country without proper registration. Now, with the acquisition of SEBC and its regulatory compliance, Binance has gained a foothold in the Japanese market once again.</p><p>Binance Japan aims to provide a comprehensive suite of services to its Japanese customers. New users can access spot trading, Earn products, and the NFT marketplace, while existing customers can migrate to the local subsidiary starting August 14. The token offerings include a diverse range of assets, and the addition of BNB presents exciting opportunities for traders and investors in Japan.</p><p>Rival exchanges such as Coinbase and Kraken have decided to halt their operations in the country as they struggled to adjust to Japanese market conditions. The move by Binance to re-enter Japan’s market will be closely watched to see if it can succeed where others have failed.</p>

Binance Set For Japanese Market Re-Entry With 34 Token Listings

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