Despite its ongoing legal battle with the SEC, Binance is looking to expand its presence in the overseas market by partnering with Mitsubishi UFJ Financial Group to launch stablecoins denominated in USD, EUR, and Japanese Yen in Japan's growing crypto industry by 2024. Japan recently passed a law allowing licensed companies to issue stablecoins, with MUFG engaging in discussions with various entities about using its blockchain platform to create stablecoins linked to foreign currencies.

Binance will need to obtain a license in Japan as an electronic settlement methods transaction business provider to execute the issuance plan. Binance has also reopened its Belgium operations and plans to launch a fully compliant stablecoin in Europe.