Binance's (CRYPTO: BNB) Japan subsidiary announced that 13 new tokens will be added to spot transactions, effective Nov. 27.
The new tokens include Hedera Hashgraph (HBAR), Near Protocol (NEAR), Optimism (OP), ImmutableX (IMX), Arbitrum (ARB), The Graph (GRT), Render Token (RNDR), Decentraland (MANA), EOS, GALA, Ape Coin (APE), KLAY, and LSK.
Four of these tokens — NEAR, GRT, EOS, and APE — will also be combined with the "Simple Earn" lending crypto asset service offered by Binance.
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This will take the total number of tokens provided to 47. The goal is to trade "100 currencies," according to Tsuyoshi Chino, CEO of Binance Japan.
It previously had 34, including Bitcoin, Ethereum, Binance Coin, and Cardano among others. The step comes on the heels of Binance looking to handle 100 currencies and take the step forward in crypto assets adoption within Japan.
Background In its move to tap the Asian region opportunities, Binance commenced its crypto trading platform in Japan in early August in compliance with the local rules launching the highest number of token access when compared to other exchanges.
Japan being termed as a strict digital-asset regulation country is currently looking to enhance blockchain-based industries through easing of crypto rules.
Coinbase and Kraken exited the Japanese market in early 2023. Kraken exited the market a second time in December 2022 to focus resources and investments in areas that align with its vision. It had initially exited the market in 2018. Coinbase exited the Japanese market citing changes in the market environment.
Separately, Binance Labs announced Wednesday, Nov. 15, that it has invested in ARKM, a native token of the deanonymizing blockchain platform Arkham. The investment amount remains undisclosed.
This is mainly to drive on-chain insights at scale across the blockchain ecosystem. Following the news, ARKM token in the past 24-hours trading saw a 17% surge taking the past 30-day gains to 57%.
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