Skip to content

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

Coinbase Unveils Plans to Enter the Japanese Market

Posted on juni 4, 2018 by Blockchain News

Coinbase Unveils Plans to Enter the Japanese Market

One of the largest US cryptocurrency companies, Coinbase, has unveiled its plans to enter the Japanese market in order “to accelerate the global adoption of cryptocurrency.” The company has been in talks with the country’s financial regulator to ensure compliance.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Coinbase Opens Office in Japan

Coinbase announced on Monday, June 4, its plan to enter the Japanese market. Vice President and General Manager Dan Romero wrote:

As part of our effort to accelerate the global adoption of cryptocurrency, today we’re announcing the launch of Coinbase’s office in Japan…we plan to take a deliberate approach to our rollout in Japan, which means working hand-in-hand with the Japanese FSA [Financial Services Agency] to ensure compliance with local laws at every stage.

Coinbase Unveils Plans to Enter the Japanese MarketCurrently operating in 32 countries, Coinbase claims to have more than 20 million customers. “We support USD, EUR, GBP, CAD and BTC currencies for trading,” its website states. Other than Japan, the only other Asian country the company currently has a presence in is Singapore.

Romero emphasized, “As a regulated, compliant crypto company in the U.S., we will focus on building that same level trust with new customers in Japan.”

CEO Appointed in Japan

Coinbase Unveils Plans to Enter the Japanese Market
Nao Kitazawa.

The San Francisco-based crypto company has also appointed Nao Kitazawa as the CEO of the new office. He previously worked as an investment banker at Morgan Stanley Japan and has spent several years as a member of an international law firm, litigating cases related to finance and real estate in Japan and New York.

Kitazawa is also the former COO of Money Design, a company that helped pioneer automated investment advice platforms in Japan. “As one of the industry’s top international leaders, Nao sits on the board of the Fintech Association of Japan,” Romero noted, adding that:

Our new office will lay the foundation for Japan’s crypto investors to access a range of Coinbase’s products…Coinbase services available to Japanese customers will be provided with Japanese language translations for ease of use.

Eying Japan Since 2016

Coinbase Unveils Plans to Enter the Japanese MarketCoinbase has been contemplating an expansion into Japan since at least July 2016 when it partnered with Bank of Tokyo-Mitsubishi UFJ (BTMU), the largest bank in Japan and a subsidiary of the Mitsubishi UFJ Financial Group. “While we do not yet offer digital currency exchange services in Japan, we are committed to continue international expansion and look forward to working with BTMU to support this focus in key markets in Asia and globally,” Coinbase said at the time.

Coinbase Unveils Plans to Enter the Japanese MarketSince the Payment Services Act went into effect in Japan last year, all crypto exchanges in the country are required to be licensed by the FSA.

Japan already has a substantial number of exchanges competing in the crypto space. There are 16 fully licensed exchanges and 16 more have been allowed to operate while their applications are pending. In addition, the FSA has revealed that 100 more companies are seeking to enter the space including Yahoo! Japan and Line Corp.

Among existing exchanges, Bitflyer is the country’s largest crypto exchange by volume. Another popular exchange, Coincheck, was recently acquired by one of Japan’s largest online brokerage firms, Monex Group. Two other conglomerates are also operating crypto exchanges: DMM and GMO Internet. In addition, one of the largest financial services companies, SBI Group, partially launched its crypto exchange on Monday.

What do you think of Coinbase expanding into Japan? Do you think it will do well? Let us know in the comments section below.


Images courtesy of Shutterstock, Nikkei, and Coinbase.


Need to calculate your bitcoin holdings? Check our tools section.

The post Coinbase Unveils Plans to Enter the Japanese Market appeared first on Bitcoin News.


Source: Bitcoin.com
Original Post: Coinbase Unveils Plans to Enter the Japanese Market

Ledger Nano X - The secure hardware wallet

Recente berichten

  • Shiba Inu Whale Abruptly Moves 4,000,379,151,023 SHIB in Massive Transaction – Here’s Where the Crypto Is Going
  • Bitcoin Price Set To ‘Sprint’ Toward $40,000, This Prominent Trader Claims
  • Nigeria to tax crypto, digital assets 10% on capital gains — Experts react
  • Millions in Polygon’s MATIC Tokens Were Sent to Binance and Coinbase Ahead of 30% Slide, Data Shows
  • Here’s How Bitcoin Could Explode by Over 3,500% From Current Levels, According to ARK Invest CEO Cathie Wood

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • juni 2023
  • mei 2023
  • april 2023
  • maart 2023
  • februari 2023
  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2023 Blockchain News Feed | Design: Newspaperly WordPress Theme