Binance announces the launch of its services in Japan

The cryptocurrency platform Binance is preparing to launch its full cryptocurrency trading services in Japan next August, as revealed by the founder of the global platform Changping Zhao.

During a press conference, Chao explained that Binance could begin trading stablecoins in Japan, where the country’s stablecoin law, which came into force on 1 June, allows licensed Japanese banks, registered money transfer agents and trust companies to issue tokens.

Binance had bought the Sakura Exchange BitCoin platform last November and said in May this year that it was creating a platform to fully comply with local rules.

In the same vein, the head of regional markets at Penance Richard Teng said during the press conference that recent signs of interest in various digital currencies from traditional financial players could encourage mass adoption at a much faster pace.

It should be noted that the Binance Platform has taken some steps to expand its Asian presence elsewhere as well, including in South Korea and Thailand, although the world’s largest digital currency exchange is subject to intense regulatory scrutiny in a range of other jurisdictions worldwide.