Binance, the top cryptocurrency exchange globally, has chosen to partner with Liquid, a Tokyo-based biometrics firm, to make sure its Japanese platform is extra secure. This means that Binance Japan can follow the strict rules set by Japan to check and confirm the identity of its users.
To ensure that Binance Japan’s users are who they say they are, they’ll be using Liquid’s special technology called eKYC. This tech uses smart AI-powered processing to quickly and smoothly confirm people’s identities, following the rules of each country for legal and security reasons. Liquid specializes in understanding images and big data related to how our bodies can be recognized.
Binance’s Commitment to Safety and Following the Rules
Takeshi Chino, Binance’s General Manager in Japan, points out how important it is to keep the platform, users, and community safe from possible threats. Chino shares the excitement of launching a fully compliant platform in Japan. Binance wants to keep up high standards for safety and following rules in Japan.
Binance has been under a lot of rules from different countries lately. Japan’s regulators warned Binance about operating without the right permission. So, Binance made a big move and bought a company called Sakura Exchange Bitcoin (SEBC) in November 2022.
This move helped Binance meet the local rules. In May 2023, Binance announced that Japanese users of their global exchange can move to the new Japanese platform after they prove their identity. By the end of July, Binance’s founder Changpeng Zhao said Binance would give all its services back in Japan, starting from August 1st. The new Japanese platform from Binance is starting with 34 different coins.
The CEO of Liquid, Hiroki Hasegawa, talked about their special tech, the eKYC product. This product uses smart tech like recognizing faces and images of official IDs. This technology is already used in many different industries. Hasegawa shared how happy he is that their technology can help more people stay safe and follow the rules.
By integrating Liquid’s eKYC service, Binance Japan is setting a new industry standard for compliance and security. This partnership not only enhances the safety of the platform but also serves as a testament to Binance’s commitment to maintaining a secure ecosystem for its users.
Final Thought
Binance and Liquid have joined forces to create a safer platform in Japan for trading cryptocurrency. Using Liquid’s advanced technology, Binance can make sure its users are who they say they are while following the rules set by Japan. This partnership reflects Binance’s dedication to safety and rule-following. With Liquid’s help, Binance is creating a secure and user-friendly space for cryptocurrency trading in Japan.