Binance Japan, a subsidiary of the global crypto exchange has revealed that it will be listing 34 cryptocurrencies upon its launch in August. The exchange giant is living up to its name as the largest crypto exchange by fulfilling this.
According to the update, the list of cryptocurrencies to be offered include popular tokens like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polygon (MATIC), and for the first time in Japan, Binance Coin (BNB).
Significantly, Binance Japan will be listing more tokens on its platform than its domestic rivals including Bitbank, GMO, and Coincheck. However, it is important to note that Binance Japan will not be offering leveraged trading. This is because Binance will have to obtain a “Type 1 Financial Instruments Business” license with strict standards before it can offer leveraged trading services in the country.
The company’s choice to list a record 34 tokens at launch may have been a calculated move to draw in a larger pool of seasoned users. The list includes tokens connected to decentralized finance (DeFi) and blockchain-based gaming, or Web3 games.
Cryptocurrencies listed on Binance Japan
According to a tweet by CoinPost representative, Binance Japan is now ranked number 1 in the number of stocks handled since launch. The list of cryptocurrencies to be available on Binance Japan include:
- Bitcoin (BTC) Ethereum (ETH)
- Bitcoin Cash (BCH) Ripple (XRP)
- Litecoin (LTC) Chiliz (CHZ)
- Solana (SOL) Ethereum Classic (ETC)
- Cardano (ADA) Binance Coin (BNB)
- BAT DAI
- Dogecoin (DOGE) Tron (TRX)
- Polkadot (DOT) Enjin (ENJ)
- Polygon (MATIC) Maker Price (MKR)
- IOST JasmyCoin (JASMY)
- Ontology (ONT) QTUM
- Sandbox (SAND) Stellar (XLM)
- Tezos (XTZ) XEM
- Chainlink (LINK) Zilliqa (ZIL)
- Algorand (ALGO) Astar (ASTR)
- Cosmos (ATOM) Avalanche (AVAX)
- Axie Infinity (AXS Shiba Inu (SHIB)
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Other features to be available on the Binance Japan platform include “Simple Earn (credit crypto assets)” and “NFT Marketplace,” where users can earn interest by depositing crypto assets. In addition, it will also have “auto-invest” and “API connectivity” features for investors and traders.
Binance Japan launch is strategic as it comes at a time when the Japanese government is taking a bold stance towards Web3 and potentially making Japan a global crypto hub.
Binance is currently facing regulatory issues in the United States and in other parts of the world, however, its move to Japan will likely help the crypto firm expand its reach to other markets.
