Binance Japan, recently launched with comprehensive services, has unveiled ambitious plans to significantly diversify its token offerings.
The exchange intends to provide a selection of at least 100 tokens on its platform in the near future, a threefold increase from its current range. This revelation stems from a recent Bloomberg report.
Binance Japan’s representative shared during an online briefing that the exchange is actively working towards enhancing liquidity within the local crypto market.
The strategy involves collaborating with other domestic cryptocurrency exchanges to ensure smoother and more robust market conditions. This collaborative approach is intended to bolster trading experiences for users.
Changpeng Zhao, the founder and CEO of Binance, affirmed the exchange’s partnership-driven initiative by retweeting a related article from Japanese crypto media outlet Coinpost.
This collaboration underscores Binance’s commitment to fostering a vibrant and interconnected crypto ecosystem in Japan.
Presently, Binance Japan, the local counterpart of the world’s largest crypto exchange, hosts a selection of 34 tokens.
The planned expansion to at least 100 tokens on the platform showcases Binance’s dedication to catering to a broader range of trading preferences and investment opportunities for users.
The recently launched Binance Japan offers a spectrum of services to customers, including spot trading, access to Earn products, and participation in its NFT marketplace.
These services collectively contribute to the platform’s comprehensive and user-centric approach.
Binance’s re-entry into the Japanese market gained momentum with its acquisition of 100% ownership of Sakura Exchange BitCoin in November 2022.
This strategic move paved the way for Binance to align with regulations outlined by the Japan Financial Services Agency (JFSA).
Notably, this return follows prior warnings issued by the JFSA in 2021, cautioning against Binance’s unregistered operations within the country.