Binance wants to triple the number of trading pairs it offers in Japan, while at the same time delisting nine cross-margin and isolated-margin pairs elsewhere.
According to a CoinPost report, the General Manager of Binance Japan, Takeshi Chino, announced that the exchange will soon allow the trading of 100 altcoins in total. Currently, Binance Japan only supports 34 tokens.
Binance Japan Executive Reveals Future Plans
Binance’s Japanese entity also plans to allow futures trading after obtaining a Class 1 Financial Instruments Business Operator license in the country. Furthermore, the company wants to launch a Japanese yen-based stablecoin.
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Last year, Binance acquired the Japanese-registered Sakura Exchange Bitcoin (SEBC) with the intention of establishing a subsidiary in Japan. Eventually, Binance Japan went live on Aug. 1.
Japan is opening its doors to the crypto industry through robust regulations and whitelisting processes. On Wednesday, it granted whitelist approval to the blockchain platform EOS, allowing Japanese citizens to trade EOS tokens against the yen.
Binance Delists 9 Trading Pairs
While Binance is expanding into the Japanese market, it has announced the delisting of nine cross-margin and isolated-margin trading pairs from Sept. 9. The nine trading pairs are as follows:
- AMB/BUSD
- DASH/BUSD
- FIDA/BUSD
- HARD/BUSD
- HOT/BUSD
- IOST/BTC
- NULS/BUSD
- PORTO/BUSD
- REQ/BUSD
Out of these nine trading pairs, eight are BUSD trading pairs. Binance has terminated supporting the stablecoin after the issuer Paxos stopped minting it due to regulatory challenges.
The exchange has been gradually delisting the BUSD trading pairs since then.
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