On November 15th, Binance Japan announced that it would be listing an additional 13 tokens on its platform starting from November 27, 2023. This move will increase the total number of tokens on the exchange from 34 to 47, making Binance the platform with the most tokens listed in Japan.
The 13 tokens set to be listed include Hedera Hashgraph (HBAR), Near Protocol (NEAR), Optimism (OP), Immutable X (IMX), Arbitrum (ARB), The Graph (GRT), Render Token (RNDR), Decentraland (MANA), EOS (EOS), GALA (GALA), ApeCoin (APE), Klaytn (KLAY), and Lisk (LSK).
Furthermore, Binance stated that all 13 of these tokens are already being traded on most domestic exchanges and are classified as meeting the listing standards of the Japanese Financial Services Agency (JFSA) and the Japan Virtual Currency and Crypto Asset Exchange Association (JVCEA).
“This is a significant step towards our ambition to list at least 100 tokens on the Binance Japan platform. Binance is committed to helping Japan lead in adopting web3. We will continue to strive to provide more services in Japan.” – Tsuyoshi Chino, CEO of Binance Japan.
In addition to listing more tokens, Binance Japan also plans to launch stablecoins backed by fiat currencies such as USD, EUR, and JPY (Japanese yen) in 2024.
As for Binance’s re-entry into the Japanese market, it happened in August 2023 after facing legal pressure several times. Binance’s re-entry essentially involved rebranding the Sakura Exchange BitCoin (SEBC), which Binance acquired at the end of last year. SEBC is regulated by the JFSA, making it a legitimate and compliant entry point for Binance into the Japanese market.
Interestingly, Binance’s expansion in Japan coincides with the departure of other major companies like Kraken and Coinbase.