- New Cryptocurrencies on Binance Japan: Binance Japan adds 13 new digital assets, including NEAR, IMX, and MANA, expanding its total offerings to 47, with future plans to reach 100.
- Market Response to Announcement: The addition of these cryptocurrencies led to a positive market response, with notable gains in NEAR, KLAY, and OP.
- Binance’s Strategic Re-entry into Japan: Binance re-enters the Japanese market after acquiring Sakura Exchange BitCoin, aiming to leverage Japan’s strong economy and tech ecosystem for cryptocurrency adoption and regulatory compliance.
NEAR, IMX, MANA, and Many More
The Japanese subsidiary of the world’s largest cryptocurrency exchange – Binance Japan – disclosed the addition of 13 new digital assets on its platform.
Users will get the chance to trade Hedera Hashgraph (HBAR), Near Protocol (NEAR), Optimism (OP), ImmutableX (IMX), Arbitrum (ARB), The Graph (GRT), Render Token (RNDR), Decentraland (MANA), EOS, GALA, Ape Coin (APE), KLAY, and LSK from November 27. Speaking on the matter was Tsuyoshi Chino, CEO of Binance Japan:
“Our focus is to leverage Binance’s world-class blockchain ecosystem and global knowledge to continue expanding our services in Japan and play a leading role in disseminating crypto assets. We look forward to the future developments of Binance Japan.”
Following the upcoming move, the marketplace will increase the total number of supported assets to 47. As CryptoPotato previously reported, the company intends to boost that figure to 100 in the future.
Some of the cryptocurrencies that will soon get listed on Binance Japan reacted positively shortly after the announcement. NEAR and KLAY jumped by over 7% on a 24-hour basis, whereas OP soared by 6%.
Binance’s Return to Japan
The firm revealed its plans to set foot back to the Land of the Rising Sun in November last year when acquiring Sakura Exchange BitCoin (SEBC). This enabled the Japanese arm of the marketplace to start providing cryptocurrency services five years after it left the nation due to issues with domestic regulators.
Binance Japan General Manager Takeshi Chino argued that the Asian country would play an important role in the future of cryptocurrency adoption, describing it as one of the strongest economies in the world with “a highly-developed tech ecosystem” and one that is “poised for strong blockchain uptake.”
“We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto,” he added.