Binance Japan Goes Live with 34 Listed Cryptocurrencies

Binance Japan, a subsidiary of the world's largest crypto exchange by daily trading volume, started to launch with 34 listed tokens, according to the Japanese crypto news outlet. On Aug. 1, the company shared details about the services it plans to provide later this month.

The initial offerings includes bitcoin (BTC), ether (ETH), and bitcoin cash (BCH), as well as XRP. Binance’s token Build and Build (BNB), formerly Binance Coin, will be listed for the first time in Japan, the report pointed out.

The number of promised cryptocurrencies exceeds those traded on the platform's major domestic competitors such as Bitbank (30), GMO Coin (26), and Coincheck (22), which would make Binance Japan the country's top exchange by supported digital coins.

Binance's Japanese platform will start operations with spot trading and will not offer leverage trading at launch. To provide the latter, the company would need to first obtain a "Type 1 Financial Instruments Business" license which comes with strict requirements.

Decentralized finance (defi) and Web3 tokens are included as well and Binance Japan will consider listing in the future tokens that are currently not supported by other domestic exchanges. It will also provide access to Simple Earn, its crypto deposit accounts, and the Binance NFT Marketplace.

(Source: Bitcoin.com)