Taking pride in being one of the world’s highly acclaimed crypto exchange trading platforms, Binance has announced its strategic partnership with two subsidiaries of Yahoo Japan named Z Corporation and TaoTao Inc. The crucial partnerships are aimed to proliferate the business of Binance in the Japanese marketspace.
“Many non-Japanese may not understand the significance of this. TaoTao & Z-Corp are subsidiaries of Yahoo Japan. YJ has been independent from Yahoo US for a long long time and is doing well. It is 48% owned by Softbank,” stated Changpeng Zhao, the CEO of Binance. Interestingly, the partnership can be seen as a major step by Binance as the two firms are subsidiaries of Yahoo Japan, which has been quite successful in comparison to its US counterpart. Thus, the new collaboration is likely to pave the way for the success of the crypto trading exchange in Japan.
According to the latest reports, the team-up will help Binance is expanding its operability capacities, trading activities, and crypto services in Japan in a fully regulated ecosystem. By employing Binance’s revolutionary technology, both Z Corporation and TaoTao Inc. will join hands with the Financial Service Agency which will allow them to enjoy complete regulatory compliance in the country’s marketspace.
The Japanese government has been in constant efforts to carve out a regulatory framework for its citizens, which is secured, trustworthy, and innovative so that they could indulge in safe crypto trading. Earlier this week, the Financial Service Agency proposed to lower the leverage rate limit of digital currency margin trading to 2x from 4x. On the other hand, Binance too constantly strives to expand its operations to the unexplored countries. The leading crypto trading exchange rolls out new trading pairs, investment products, and services from time to time to facilitate its global customers. Recently, Binance collaborated with global fiat on-ramp platform Banxa. The team-up fostered Binance users to deal with Australian Dollars, Euros, and British Pounds. It also lent support to five new European currencies namely- Czech Koruny (CZK), Bulgarian Leva (BGN), Romanian Lei (RON), Polish Zloty (PLN), and Swedish Krona (SEK).
Z Holdings Corporation is the parent company of Z Corporation Inc. or Z Corp. Z Holdings Corporation is the Softbank subsidiary and was previously addressed by the name of Yahoo Japan Inc. TaoTao, on the other hand, works as a licensed cryptocurrency exchange and is also the portfolio firm of Z Corp. The strategic partnership of the two Yahoo-backed firms with Binance is gearing up to place Japan as a big player in the crypto domain.