Coinbase makes first foray in Japan

Leading US cryptocurrency exchange Coinbase has announced an official partnership with Japanese banking giant Mitsubishi UFC Financial Group (MUFG).

As a result, Coinbase will be able to launch retail trading products in the country and more products will be coming later down the line.

In an official release, Coinbase CEO Brian Armstrong said: “We also plan to introduce more localized versions of globally popular services such as advanced trading, Coinbase for Institutions, and more in the future.”

MUFG will introduce a special “Quick Deposit” function that will offer Coinbase customers a quick fast fiat on and off ramp payment solution in Japan.

The present partnership marks nearly three years of trying for Coinbase to enter the Japanese crypto market.

The company was able to secure a license from the Japan Virtual Currency Exchange Association in March 2020.

The recent announcement crowns the past three years of trying with success, with Coinbase looking to expand its crypto trading volume by setting foot in what it considers one of the largest markets in the country.

Japan is also home to many crypto casinos, which have been of interest to local players. If you are looking for a great localized crypto casino to play at, we recommend turning to Bitcasino, 1xBit or FortuneJack.

Source

Updated: 08/19/2021 — 11:00