It seems like Japan is another important market for binance as the exchange is going to re-enter this market soon. The exchange has shared that they will be starting their operation in Japan but this time they have acquired one of the exchanges in the country through which they are trying to enter the market. They already had their operations in Japan for cryptocurrency trading but due to some lack of approvals they had to wind down in 2018 and since then they were missing out on this market.
This is the time when the leading exchanges are expanding their business in many countries I am probably this is because they are expecting a better market situation in this year or the next. As per the experts, the market is in the recovery phase and we are almost at the end of the bear market however it might take some time which could be about any year approximately. The bull cycle will bring an opportunity for the crypto exchanges to make a lot of money and they are preparing themselves to manage the users and provide more liquidity.
While things are not good in the US for the exchange but seems like it is good news for the company as they have got the approval to operate in Bermuda recently and now Japan is going to be the next in their portfolio. It is one of the leading exchanges that is trying to capture bigger markets and we know that here on this exchange we get quite a good amount of liquidity and multiple options of the coins.
Leading cryptocurrency exchange Binance is set to return to Japan by acquiring the Japan Financial Services Agency-licensed crypto trading platform Sakura Exchange Bitcoin (SEBC). It was around five years ago that Binance’s primary bid to obtain an independent license in Japan failed. The exchange was forced to wind down its operations in Japan in 2018 after the regulators warned it was operating without approval.
Binance provides crypto trading services as per the country's regulation which means wherever possible they tried to provide crypto trading using the Fiat currency if that is not possible then they do not provide this option but they continue to do it with crypto with a very common crypto option. For example, they provide services to Indian users but it is not based on Fiat currency due to the regulatory issues in the country.
This time this exchange has tried a different route to enter this market and for that, they have acquired one after company to obtain approval. SEBC is the crypto trading platform that they have acquired and now with this license, the exchange will be able to provide the services. It is good that this is the time when crypto companies are trying different ways to expand their presence in multiple countries as well as they are also trying to bring more innovative products for the community so that people get more options to invest. DeFi is still one of the options that is more popular among investors however something new come up which can offer even better opportunities then most likely people would explore that too.
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