Coinbase to launch cryptocurrency exchange in Japan

The Bitcoin exchange Coinbase announced its entry into the Japanese market in partnership with financial giant Mitsubishi UFJ Financial Group (MUFG).

🇯🇵BIG NEWS!🇯🇵

We’re excited to be launching Coinbase in Japan, one of the first countries to embrace crypto and one of the largest markets by crypto trading volume in the world.

Details here 👇https://t.co/ZhsYiE3L2a

— Coinbase (@coinbase) August 19, 2021

The company announced the launch of Coinbase Japan, described as \”fully compliant with local regulations\”, as part of its global strategy.

According to the statement, the MUFG partnership, serving 40 million customers in the country, is designed to ensure from day one the ability to deposit and withdraw fiat funds.

Initially the exchange will offer retail products to Japanese customers, including \”five core assets\”, which it did not name.

One user выложил a fragment of Coinbase’s registration application with the Japanese Financial Services Agency. It lists Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Stellar Lumen (XLM) and Litecoin (LTC).

Going forward, Coinbase plans to add more assets to the Japanese platform and localize its products and services, including those aimed at corporate clients.

As reported, Coinbase’s revenue for the second quarter of 2021 amounted to $2.2 billion.

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