Binance Japan, set to launch in August fully, aims to list 34 tokens initially, surpassing all domestic rivals.

The news from local crypto media outlet Coinpost also revealed that Binance Japan is planning to introduce its native token, BNB, to the Japanese audience for the very first time, further strengthening its presence in the country’s flourishing crypto landscape.

The establishment of Binance Japan traces back to November 2022, when Binance acquired the services of the licensed local crypto exchange provider, SAKURA Exchange BitCoin, Inc. (SEBC).

Following the acquisition, SEBC rebranded itself as Binance Japan Inc. and has since been diligently collaborating with key stakeholders and industry associations to lay the groundwork for a fully compliant Web3 ecosystem in Japan.

Binance Japan envisions its launch as a pivotal step towards building a sustainable Web3 ecosystem in the country.

The exchange aims to offer a suite of services to its new customers in Japan, encompassing spot trading, Earn products, and an NFT marketplace. Moreover, they plan to introduce derivatives services in accordance with local regulations to enhance their service offerings in the Japanese market.

For existing customers in Japan who already have global Binance accounts, Binance Japan will be providing a separate notice, initiating the migration process after Aug. 14.

The launch of Binance Japan comes at a crucial time when other prominent players like Coinbase and Kraken have halted their operations in the country, citing “market conditions” as the primary reason.

However, Japan’s policymakers have indicated their commitment to fostering the growth of the Web3 ecosystem, as evidenced by recent announcements at the WebX conference in Tokyo.