Global crypto exchange, Binance, has launched Binance Japan, a platform designed specifically for users in the country. Supporting Shiba Inu and XRP, the venture could potentially offer an unsurpassed crypto experience in Japan. Accompanying the announcement, the Chinese reporter Colin Wu shared the news on Twitter.
In Japan, users can mainly deposit and withdraw Japanese yen and cryptocurrency on the exchange. Starting August 20, the feature will allow users to further withdraw the local fiat currency. Additionally, Binance Japan here provides convert and spot trading for 32 tokens, excluding JasmyCoin (JASMY) and NEM (XEM). The exchange has also supplied 34 tokens, including Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA)
The launch builds onto a key moment earlier in the year – November – when the Japanese company, SAKURA Exchange BitCoin, was purchased by Binance and since converted to Binance Japan Inc. According to Binance, this regulated-exchange feature could provide significant development for the growth of the country’s crypto-market. It is hoped that Japan, with its reputation as an innovative area and recent interests in blockchain technology, could become a safeguard ensuring the sustainability of the crypto-economy.