Binance enters the Japanese cryptom market with the takeover of Sakura Exchange

Binance bought the Japanese crypto company Sakura Exchange Bitcoin because the world's largest crypto exchange has been submitting a new offer for admission to Japan.

The deal enables Binance to be back into the Japanese cryptom market via a unit licensed by the country's Financial Services Agency in the country.

The deal follows a series of regulatory controversy for Binance in Japan. In June 2021, the supervisory authorities warned the stock exchange that they are driving with customers in the country not authorized. It was a second warning of the authorities that the 2018 crypto exchange had complained about because of the same activity.

The takeover of Sakura by Binance takes place in the middle of a tightened test of the sector after the rapid collapse of the competing Stock Exchange FTX, the shock waves of which move through the industry.

Sakura is authorized in Japan and offers 11 token trading pairs.

The conditions of the transaction were not announced.