Binance Acquires 12th License after Acquisition in Japan

SEBC is a JFSA-registered crypto platform from Tokyo.

Binance, one of the biggest cryptocurrency exchanges in the world, announced on Wednesday it acquired a full stake in Sakura Exchange BitCoin (SEBC), a crypto platform from Tokyo regulated by the Japan Financial Services Agency (JFSA).

According to the press release, the terms of the acquisition were not disclosed.

By acquiring a fully regulated entity in the Japanese market, Binance is expanding its global regulatory environment. Due to the decentralized nature of its business and digital presence in many countries, Binance has come under the scope of regulatory agencies and is looking for ways to avoid excessive regulatory pressure.

"The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world's leading economies with a highly-developed tech ecosystem, it's already poised for strong blockchain uptake. We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto," Takeshi Chino, the General Manager of Binance Japan, commented.