Binance Surpasses 150 Million Users: Sets Foot in Japan and Dubai Amidst Increased Global Expansion

Binance, a leading cryptocurrency exchange, has achieved a remarkable milestone of 150 million registered users, as revealed by CEO Changpeng Zhao on Twitter. This announcement comes on the heels of the company's successful launch in Japan and procurement of an operational license in Dubai.

In Japan, Binance has officially commenced its operations, offering spot trading for 34 tokens. This list includes popular cryptocurrencies such as BTC, ETH, BNB, DOGE, DOT, ENJ, ETC, and LINK. The licensed cryptocurrency exchange service provider, formerly known as SAKURA Exchange BitCoin, Inc. (SEBC), has been renamed to Binance Japan Inc. as part of its rebranding strategy.

While the US Securities and Exchange Commission (SEC) has recently ramped up its investigation into Binance's operations in the United States, Binance is strategically shifting its focus towards new markets. Binance FZE, a subsidiary based in Dubai, has recently become the first-ever exchange to secure an Operational Minimum Viable Product (MVP) license from Dubai's Virtual Asset Regulatory Authority (VARA). With this license, Binance can now provide virtual asset exchange and broker-dealer services to both institutional and eligible retail investors in Dubai.

In an effort to continue its aggressive user base expansion, Binance has introduced two new Launchpools. The first, Sei (SEI), is a Layer-1 solution engineered for digital asset exchange. Users can stake their BNB, TUSD, and FDUSD to farm SEI tokens for a period of 30 days, with SEI scheduled to be listed on Binance on August 15.

The second Launchpool, CyberConnect (CYBER), is a Web3 social network designed to allow developers to create social applications. Users can also stake BNB, TUSD, and FDUSD to farm the CYBER token over a 30-day period, and CYBER is set to be listed on Binance on August 15.

Interestingly, despite China's ban on cryptocurrency, Binance's internal platform "Mission Control" disclosed that Chinese users conducted approximately $90 billion in cryptocurrency trades on the platform in May alone. This constitutes 20% of the global trading volume, making China the largest market for Binance, even though access to the Binance.com website is blocked within the country.

Apart from China, Binance continues to see robust activity from other major markets including South Korea, Turkey, and Vietnam. The recent developments and expansion initiatives demonstrate Binance's strategic moves to broaden its global footprint and solidify its position as a leading player in the world of cryptocurrency.