- Binance Japan is in the process of expanding its domestic services, as outlined during an online business meeting that elucidated the company’s strategic plans.
- Mr. Tsuyoshi Chino, the executive in charge of Binance Japan, engaged in a discourse regarding the significance of stablecoins and articulated intentions to augment the array of tokens featured on their platform.
- Binance Japan was officially launched in August, offering a comprehensive range of 34 assets for trading, thereby surpassing the offerings of local exchanges in the region.
- The company’s objective is to increase its token listings by up to 100 in the near future, thereby substantially expanding its product range.
- Potential modifications to regulatory policies could potentially facilitate the process of listing tokens in the future, as the business intends to prioritize the inclusion of assets that have gained popularity within the Japanese market.
- At present, Binance Japan offers spot trading, crypto asset market, and NFT marketplace services. However, the company has expressed its intention to expand its range of services in accordance with local rules.
- Mr. Chino alluded to the possibility of forming partnerships with other regional bitcoin exchanges, thereby fostering expansion and enhancing market liquidity.
- No specific timeframe was provided for the initiation of additional services, as Mr. Chino intentionally chose to be ambiguous.
- Binance Japan intends to leverage the updated Payment Services Act of the country, which acknowledges stablecoins supported by legal money as a form of electronic payment.
- The company’s objective is to explore the possibility of collaborating with other firms in the development of stablecoins denominated in yen. These stablecoins have the potential to be utilized in many applications such as trade transactions, security tokens, and programmable payments.
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