June 19, 2024

Binance intends to cooperate with a Japanese subsidiary of Yahoo Japan

Binance intends to cooperate with a Japanese subsidiary of Yahoo Japan

The management of Yahoo Japan's subsidiaries, Z Corporation and TaoTao, are negotiating with the Binance crypto exchange to concludestrategic partnership in the Japanese market.

Binance CEO Changpeng Zhao noted:

Many people living outside of Japan maynot understanding the significance of this partnership. TaoTao & Z-Corp are subsidiaries of Yahoo Japan. YJ has long been independent from Yahoo US, the company is 48% owned by Softbank.

Z Corporation Inc. (Z-Corp) is a subsidiary of Z Holdings Corporation, which in turn is part of Softbank, formerly known as Yahoo Japan Inc. TaoTao Inc. is a Japanese licensed cryptocurrency exchange and portfolio company Z-Corp.

Cooperation will allow Binance to enter Japanesemarket, offering trading and crypto services in a fully regulated environment. The companies will work with the Financial Services Agency to ensure full compliance with regulatory requirements in the Japanese market.

The Japanese government has made every effort tocreating a secure crypto trading environment. Earlier this week, the country's financial regulator, the FSA, proposed lowering the leverage rate limit for cryptocurrency margin trading from 4x to 2x.