Binance enters Japanese market with Sakura Exchange BitCoin deal

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Nov 30 (Reuters) — Cryp­tocur­ren­cy exchange oper­a­tor Binance said on Wednes­day it acquired Saku­ra Exchange Bit­Coin (SEBC), a cryp­to exchange ser­vice reg­is­tered in Japan, to expand into the Asian country.

The terms of the trans­ac­tion were not dis­closed by Binance.

Through the acqui­si­tion, Binance will be able to oper­ate in the Japan­ese mar­ket as an enti­ty reg­u­lat­ed by the Japan Finan­cial Ser­vices Agency (JFSA).

Takeshi Chi­no, gen­er­al man­ag­er of Binance Japan, said, “We will active­ly work with reg­u­la­tors to devel­op our com­bined exchange in a com­pli­ant way for local users.”

Report­ing by Urvi Dugar in Bengaluru

Our Stan­dards: The Thom­son Reuters Trust Principles.

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