Binance Hits 150M Registered Users After Officially Launching in Japan
In Brief
Binance has hit 150 million users, the exchange’s CEO Changpeng Zhao revealed in a tweet today.
This comes after the world’s largest cryptocurrency exchange officially launched in Japan earlier this week.
Binance has also become the first crypto exchange to secure an Operational MVP License in Dubai.
Binance has hit 150 million registered users, the exchange’s CEO Changpeng Zhao revealed in a tweet today.
This milestone follows the official launch of Binance in Japan on Tuesday. The licensed local cryptocurrency exchange service provider, previously known as SAKURA Exchange BitCoin, Inc. (SEBC), which Binance acquired in November 2022, has completed a business name transformation and is now known as Binance Japan Inc.
Binance users in Japan can access 34 tokens for spot trading, including BTC, ETH, BNB, DOGE, DOT, ENJ, ETC, LINK and more.
Amidst the SEC’s intensified scrutiny of Binance’s activities within the United States, the world’s largest cryptocurrency exchange is shifting its attention towards alternative markets. Just recently, on Monday, Binance announced that its subsidiary in Dubai, Binance FZE, has become the exchange to secure the Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA).
With the license, Binance is permitted to operate virtual asset exchange services and virtual asset broker-dealer services, accessible only to institutional and qualified retail investors in Dubai.
Changpeng Zhao also acknowledged the role of two recent Launchpools announced on Wednesday, namely Sei (SEI) and CyberConnect (CYBER), in drawing in new users to the platform. Sei stands out as a Layer-1 solution optimized for the exchange of digital assets.
Currently, users can stake their BNB, TUSD, and FDUSD in separate pools to farm SEI tokens over a 30-day period. On Aug 15, Binance is set to list SEI at 12am UTC, with SEI/BTC, SEI/USDT, and SEI/BNB trading pairs.
Marking the 37th addition to the Binance Launchpool, CyberConnect (CYBER) is a Web3 social network that enables developers to create social applications. Beyond this, users can stake their BNB, TUSD, and FDUSD in separate pools to farm the CYBER token over 30 days. The CYBER token will also be listed at 12 am UTC, with trading through CYBER/BTC, CYBER/USDT, and CYBER/BNB trading pairs.
According to a report by the Wall Street Journal on Wednesday, Binance users in China engaged in cryptocurrency trading amounting to approximately $90 billion in May. This figure represents 20% of the global trading volume, firmly establishing China as the largest market for the exchange, even in the face of the nation’s cryptocurrency ban. The insights were gleaned from Binance’s internal platform, “Mission Control,” which revealed that the exchange boasted 911,650 active users in China.
A Binance spokesperson told the WSJ that China-based users are unable to access the Binance.com website as it is blocked in the country. Per the WSJ report, South Korea, Turkey, and Vietnam trail China as Binance’s biggest markets.
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
