Crypto exchange giant Binance has announced two major partnerships with subsidiaries of Yahoo Japan. This is big news for the industry.<\/p>\n
According to a company blog post Z Corporation, a subsidiary of Yahoo Japan, and TaoTao has begun negotiations with Binance for strategic partnerships in the Japanese market.<\/p>\n
The significance here is that these two firms are affiliated with Yahoo Japan which has been far more successful than its US counterpart.<\/p>\n
Binance chief executive Changpeng Zhao was quick to point this out;<\/p>\n
Many non-Japanese may not understand the significance of this. TaoTao & Z-Corp are subsidiaries of Yahoo Japan. YJ has been independent from Yahoo US for a long long time and is doing well. It is 48% owned by Softbank.<\/p>\n
Z Corporation Inc. (Z Corp), is a wholly-owned subsidiary of Z Holdings Corporation which is the Softbank subsidiary formerly known as Yahoo Japan Inc. TaoTao Inc. is a Japanese licensed cryptocurrency exchange and a portfolio company of Z Corp.<\/p>\n
The collaboration will enable Binance to enter the Japanese market offing trading and crypto services in a fully regulated environment. The announcement added through Binances cutting-edge technologies, the two firms will collaborate with the Financial Service Agency to ensure full regulatory compliance in the Japanese market.<\/p>\n
Japans government clearly doesnt want its citizens to get burned and has made every effort to foster a safe crypto trading environment. Earlier this week the countrys financial regulator, the FSA, proposed lowering the leverage rate limit of cryptocurrency margin trading from 4x to 2x.<\/p>\n
According to reports, the proposal would be a first for Japanese regulators involving the rate of crypto margin trading.<\/p>\n
Not a week goes by without Binance rolling out new crypto trading pairs, fiat on-ramps, investment products or new offices.<\/p>\n
So far this month the worlds most popular crypto exchange partnered with global fiat on-ramp solution Banxa to support Australian Dollars, Euros, and British Pounds.<\/p>\n
It also opened fiat gateways for five new European currencies. Czech Koruny (CZK), Bulgarian Leva (BGN), Romanian Lei (RON), Polish Zloty (PLN), and Swedish Krona (SEK) were added to the list.<\/p>\n
In Asia, it opened a Thai baht on-ramp through Thailands leading regulated digital asset exchange, Satang.<\/p>\n
This latest development is big news for the crypto industry, especially in Japan which is already streets ahead of its western counterparts in terms of digital asset services.<\/p>\n
What do you think about Binances expansion plans in Japan? Share your thoughts in the comments below!<\/p>\n
Images via Shutterstock, Twitter: @cz_binance<\/p>\n<\/p>\n
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Crypto Exchange Binance to Partner With Yahoo's Japanese Divisions - Bitcoinist<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Crypto exchange giant Binance has announced two major partnerships with subsidiaries of Yahoo Japan. This is big news for the industry Continue reading