Binance is renaming the Sakura Exchange Bitcoin (SEBC) it purchased and launching it as Binance Japan.
According to local media reports in Japan, Binance is planning to restart its services in Japan. Binance, which bought the Japan-based stock exchange SEBC in November last year, will change the name of the exchange to Binance Japan. Binance Japan is scheduled to launch its services in June of this year.
Binance Will Put Its Japanese Leg into Service
Binance had acquired Japan-based crypto exchange Sakura Exchange Bitcoin (SEBC). The regulated exchange SEBC became part of Binance’s policy to expand into Japan. Finally, Binance has decided to shut down SEBC and relaunch it as Binance Japan.
It was reported that SEBC will end its services on May 31. Therefore, the exchange demanded that its users withdraw their assets from the exchange by May 28. After June 5, remaining user assets in SEBC will be automatically converted to Japanese yen. These assets will be automatically posted to users’ bank accounts.
SEBC’s relaunch as Binance Japan will take place in June of this year.
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