U.S.-based cryptocurrency exchange Coinbase has announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ, making it easier for Japanese residents for the easy purchase and sale of cryptocurrencies.
<h2><strong>Coinbase Launches in Japan With Mitsubishi UFJ
</strong></h2>
Coinbase, a leading cryptocurrency exchange in the U.S. has <a href="https://blog.coinbase.com/coinbase-launches-in-japan-273cd9d6bd8c" target="_blank" rel="nofollow noopener">launched</a> operations in Japan, reaching for a more global audience.

<em>“In line with our global strategy, we will aim to be the easiest to use and most trusted exchange in Japan that’s fully compliant with local regulations.” </em>the announcement read.

https://twitter.com/coinbase/status/1428189370746474500

Initially enabling trading for five <a href="https://www.cryptoknowmics.com/news/rand-corporation-analysts-say-crypto-should-be-included-in-us-japan-digital-trade-deal/">cryptocurrencies</a> such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Stellar, the company will eventually include advanced trading, Coinbase for Institutions, and more in the future.

The crypto exchange’s entrance into the Japanese market was made possible with Mitsubishi UFJ Financial Group (MUFG), the country’s top banking giant with more than 40 million customers<strong>. </strong>
<blockquote><em>"That’s why we are also excited to announce our partnership with MUFG one of the largest banks in Japan serving 40 million Japanese customers."</em></blockquote>
Under the partnership, MUFG will provide a fast fiat on-and-off ramp for Coinbase customers in Japan called MUFG Quick Deposit. Interestingly, MUFG is also an investor in the shares of Coinbase Global Inc.
<h2><strong>Coinbase Had Eyes on the Japanese Market</strong></h2>
Coinbase has had its eyes on Japan since 2018 when it announced the launch of an office in the Asian country in an effort to accelerate the global adoption of cryptocurrency.  However, the firm did not commence any operations until now.

A year later, the firm sought licensing approval from the country’s financial regulator, the Financial Services Authority (FSA). The exchange was eventually approved to enter the Japanese markets in June through a direct subsidiary by the FSA.

In March 2020, Coinbase got registered as a crypto exchange with FSA-approved and the <a href="https://www.cryptoknowmics.com/news/japan-focused-on-introduction-of-crypto-regulations-fsa-establishes-new-unit-to-oversee-digital-currency-regulations/">official self-regulatory</a> organization, the Japan Virtual Currency Exchange Association (JVCEA).

Coinbase Launches in Japan in Partnership With Mitsubishi UFJ

U.S.-based Coinbase crypto exchange has announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Coinbase Launches in Japan in Partnership With Mitsubishi UFJ

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