Crypto Exchange Coinbase Expands to Japan
Major cryptocurrency exchange platform Coinbase has officially entered the Japanese crypto market.
Coinbase Launches in the Japanese Market
Coinbase, the crypto exchange that made headlines earlier this year as it became the first crypto-entity in the world to go public today announced it was entering the Japanese market via a partnership with a Japanese financial behemoth Mitsubishi UFJ Financial Group (MUFG).
In the official blog post, the crypto exchange stated it is committed to becoming the “easiest to use and most trusted exchange in Japan that’s fully compliant with local regulations.” In that regard, the exchange has partnered with MUFG, a leading Japanese bank that serves over 40 million Japanese customers.
The exchange says its partnership with MUFG will enable millions of people in Japan across its platform to quickly commence trading by leveraging MUFG Quick Deposit for all customers in Japan from day one.
The announcement notes:
“Today’s launch is just the beginning. Coinbase is committed to increasing the use of crypto in Japan by bringing a best-in-class product offering to Japanese customers.”
“We will be launching retail products first including a suite of five top assets based on trading volume, and will add more assets and products in the coming months. We also plan to introduce more localized versions of globally popular services such as advanced trading, Coinbase for Institutions, and more in the future.”
It is worthy of note that Coinbase had bagged the approval from the Japanese financial regulator – the Financial Services Agency (FSA) – in June to operate in the Japanese crypto market.
Coinbase Continues to Expand Its Business Footprint
The U.S.-based crypto exchange has been on a serious expansion spree since it went public earlier this year. While the performance of the COIN share has not been as spectacular as many might have hoped, that has not deterred Coinbase from continuing its global expansion.
As reported previously by BTCManager on March 25, Coinbase announced that it was hiring across various roles including tech, business development, and marketing in India to man its office in the country. This, despite the infamous lack of crypto regulations in India.