Binance Japan, an arm of leading cryptocurrency exchange Binance in Japan, has introduced new trading pairs: XRP/JPY, SHIB/JPY, SOL/JPY, and ADA/JPY. These additions, announced on April 29, 2024, signify a notable step for the exchange and their communities.
According to the blog post, effective April 30, 2024, at 5:00 PM JST, users can trade XRP, Shiba Inu, Solana, and Cardano directly against the Japanese yen, one of the world’s most stable and widely used fiat currencies. This new pairing increases accessibility and liquidity for Japanese investors seeking to engage with XRP.
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This expansion caters to the diverse needs of the Japanese user base, offering them more flexibility in their cryptocurrency investment strategies.
Fee-Free Trading Incentive
The exchange is further incentivizing trading by waiving both maker and taker fees for all JPY trading pairs, including XRP/JPY, for an unspecified period. This fee-free campaign adds to the attractiveness of the newly introduced trading options.
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Benefits of the New Trading Pair
The introduction of the new trading pairs offers several advantages, one of which is increased accessibility. Japanese investors can now trade XRP, Shiba Inu, Solana, and Cardano directly against their native currency, eliminating the need for additional conversion steps. This simplifies the trading process and potentially reduces associated fees.
Secondly, the new trading pairs are expected to attract more participants to the XRP, Shiba Inu, Solana, and Cardano markets and potentially increase overall liquidity. Additionally, by making these digital assets more accessible to Japanese investors, these trading pairs could contribute to the broader adoption of XRP, Shiba Inu, Solana, and Cardano within the Japanese market.
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