Coinbase, the largest US cryptocurrency exchange, announced on Wednesday (18) that it will start operating in Japan in another step of its global expansion.
The Japanese version of the digital asset purchase and sale platform will be launched in partnership with Mitsubishi UFJ Financial Group (MUFG), one of Japan’s largest financial groups, serving more than 40 million customers.
“We are excited about the launch of Coinbase in Japan, one of the first countries to adopt cryptocurrencies”, says the note.
“Our partnership with MUFG will help millions of people access our platform quickly and start trading on our exchange, offering ‘MUFG Fast Deposit’ to all customers in Japan from day one.”
Coinbase also states that its advance in the Asian country will take place in full compliance with local regulations. The brokerage gained regulatory approval earlier this year in Japan, where 31 companies are authorized to offer cryptocurrency trading services, according to Bloomberg.
The launch of Coinbase in the region will start with a limited set of services. The platform will open first to retail investors and will make available five cryptocurrencies based on trading volume.
More cryptoactives will be listed on the Japanese version of the exchange gradually over the next few months. Coinbase also highlighted that customers in the region will receive in the future its services that are already popular in the rest of the world, such as advanced negotiation and custody for institutions.