Binance Japan is planning to initially list 34 tokens, the most offerings among its rivals in Japan, after reopening its services in the country this month. The cryptocurrency exchange is planning to offer its native token, BNB, for the first time in Japan.

In November last year, Binance acquired the Japanese cryptocurrency exchange, Sakura Exchange BitCoin, paving the way for the exchange to re-enter Japan. This step was aimed at enabling Binance to operate legally in the country after several warnings by the Japanese regulator that the exchange was operating illegally.

Spot Trading Services

According to the Japanese media publication Coinpost, Binance will initially offer spot trading services. However, the exchange will not offer leveraged trading services, which requires a 'Type 1 Financial Instruments Business' license with even stricter standards.

With 34 tokens listed for trading, Binance Japan will rank as the largest cryptocurrency exchange in Japan based on the number of listed tokens. Its rivals, Bitbank, GMO Coin, and Coincheck, offer 30, 26, and 22 tokens, respectively, according to a survey by CoinPost. Some of the tokens expected to be listed on the exchange, include Solana (SOL), Avalanche (AVAX), and Axie Infinity (AXS).

Besides that, cryptocurrency users in Japan will access Binance Earn, a program that allows users to earn interest on their crypto deposits. Additionally, the exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term will reportedly offer Japanese crypto users trading services on its non-fungible token (NFT) marketplace.

Regulatory Wins for Binance Japan

The CEO of Binance, Changpeng Zhao, has praised Japan, saying the country is a leader in the regulations of Web 3. In the recent past, the largest crypto exchange by volume has faced several regulator hurdles, recently having been forced to drop its license application in Germany.

"Japan had very clear regulations from 2017 with crypto exchange regulations, and more recently this year with the opening up of crypto listing frameworks as well as the passing of the stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term regulations in June," Zhao said.

CZ: Japan is a flagship leader for Web3 regulatory environments.

Earlier today, @cz_binance virtually addressed the WebX conference in Japan, recognizing the country's clear approach towards the industry. pic.twitter.com/TeLRUaH5Hy

— Binance (@binance) July 25, 2023

Finance Magnates reported a week ago that Binance Japan was planning to introduce stablecoins after the country passed a bill that recognizes digital assets. The new law allows licensed banks, registered money transfer agencies, and trust companies to issue stablecoins.