Odaily Planet Daily News Binance Japan has reached a cooperation with Liquid, a biometric data authentication service provider, to meet the regulatory requirements for the operation of cryptocurrency exchanges established in Japan. According to the regulations, cryptocurrency exchanges must adhere to strict KYC procedures, which involve implementing detailed identity verification processes and conducting due diligence on customers to prevent money laundering.
In an announcement published on Aug. 10, Liquid CEO Hiroki Hasegawa explained that the eKYC service provides “facial recognition and ID image recognition technology.” The service can adapt to the different regulatory requirements of each country. (Beincrypto)
According to previous reports, Binance Japan (Binance Japan) was officially launched, and Binance Japan users can obtain a variety of products and services, including spot trading, wealth management products and the Binance NFT platform. Binance Japan offers spot trading services for 34 tokens, including BNB, which is the first time BNB has opened for trading in Japan.
Binance entered the Japanese market by acquiring local licensed cryptocurrency trading service provider Sakura Exchange BitCoin (SEBC) in November last year. SEBC has changed its name to Binance Japan Inc. For existing users in Japan with Binance.com accounts, the migration process will start after August 14th.