Binance Japan Starts Onboarding Users

Binance Japan, a subsidiary of Binance, will begin onboarding users in Japan on its newly launched platform. The exchange was warned by regulators that it was operating in the country without permission two years earlier.

Existing customers in Japan can migrate to the local subsidiary from Aug 14.

Users can access spot trading, earn products, and an non-fungible token (NFT) marketplace. They will be able to trade 34 tokens, including the Binance Smart Chain's native token BNB, which is available in Japan for the first time.

Binance, acquired regulated crypto exchange Sakura Exchange BitCoin (SEBC), in November last year.

Coinbase (COIN) and Kraken stopped operations in the country in recent months, citing “market conditions” as the reason. Last week at the WebX conference in Tokyo, Japan's policymakers signalled that more Web3 related policies were in the works.

Read more: Japan Signals More Web3 Promotion Policies Are Coming