Binance has bought Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange regulated by the country's Financial Services Agency (FSA), for an undisclosed sum, according to a blog post Wednesday.
With the acquisition, the world's largest crypto exchange by trading volume enters the Japanese market, adding it to the now substantial list of countries in which it has some degree of regulatory authorization.
Most recently, Binance received authorization as a crypto asset service provider in Cyprus, having previously won similar licenses in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai and Kazakhstan. The FSA was one of several regulatory bodies that last year issued warnings that Binance was not licensed to operate in its market.
Tokyo-based SEBC offers trading of the Japanese yen against 11 digital assets, including BTC, ETH, LTC and ADA.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.