Binance is expanding into new markets even as the crypto industry grapples with turmoil unleashed by the spectacular collapse of crypto exchange FTX.
The world’s biggest cryptocurrency exchange has acquired Sakura Exchange BitCoin (SEBC), a crypto exchange registered in Japan, Binance said on its website Wednesday. The deal would allow Binance to enter the world’s third biggest economy as a regulated entity.
The purchase of SEBC marks Binance’s first license in East Asia, the company said. It did not disclose the terms of the transaction.
“We will actively work with
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