Binance has Acquired Asian Crypto Exchanges.

[Suba]

One way to develop the Binance crypto exchange business is by acquiring several crypto exchanges in Asian countries. Meanwhile, the aim of this acquisition is to adopt and build financial technology and play an important role in the crypto world in Asia. The following are several crypto exchanges that have been or will be acquired by the Binance exchange, as follows:

1. Sakura Exchange Bitcoin or SEBC
SEBC is a crypto exchange registered with the Japan Financial Services Agency (JFSA), since Nov 2022 Binance has acquired 100%.

2. WazirX
Since Nov 10, 2022, Binance has acquired the famous WarzirX crypto exchange in India, So that Indian citizens can buy and sell crypto with Rupee (INR) fiat money through Binance Fiat Gateway and also traders can trade all crypto listed on Binance exchange.

3. Tokocrypto Exchange
Tokocryto Exchange, Indonesia has been registered with Bappebti (Indonesian regulator) and the Financial Services Authority. As of Dec 19, 2022 it has been 100% acquired by Binance.

4. Gopax Exchange
Gopax, one of the five largest crypto exchanges in South Korea, will also be acquired by Binance. In the initial stage, Binance will buy 41.2% of the shares from the CEO of Gopax, namely Lee Jun-haeng,

 

[neku]

Binance is mainly focusing on the asian market, many people in Asia are investing money in crypto . It is also used extensively for making and receiving payment, especially for smaller amounts.

 

[eLdavis]

Nice one i guess binance is planning on dominating the asian market. Its a good move though on their part. Lets see how things would turn out in the end.

 

[Suba]

Nice one i guess binance is planning on dominating the asian market. Its a good move though on their part. Lets see how things would turn out in the end.

But there is one concern for crypto users, if Binance is able to dominate the crypto market in Asia it will certainly spread to other continents, so that Binance will be able to monopolize the crypto market and can control crypto prices easily.

 

[Fidelia]

Binance is just dominating the entire exchange market. With this kind of acquisition, they have eliminated all the potential competition they were to have in the Asian market. I hope that this would he good for the crypto space long term.

 

[Goldynn89]

Speculatively, this could be one of the reasons Binance has been threatened in many countries. A non government agency controlling that much money in as many countries as they do is not something that governments would turn a blind eye to.

 

[riberet19]

I think Binance is just looking to expand within the crypto world, and that's good, I think it lets us see that Binance's future is good despite the setbacks.

 

[mrki444]

After they pay penalty to US court, I didn't expect aquisition so fast. I guess it will be installment payments.

 

[Suba]

In my country the Binance exchange is also often banned, so I can't always access the Binance site, but with the TokoCrypto exchange which has been acquired by Binance, the features are not much different.