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Seeking Alpha 2021-08-19 11:59:57

Coinbase launches in Japan, partnering with Mitsubishi UFJ Financial

Coinbase launches in Japan, partnering with Mitsubishi UFJ Financial

Coinbase Global (NASDAQ:COIN) launches in Japan and partners with Japanese bank Mitsubishi UFJ Financial Group (NYSE:MUFG), entering one of the largest markets by cryptocurrency trading volumes in the world and one of the first to embrace crypto. The company also emphasizes its compliance with local regulations as regulators increase scrutiny over cryptocurrency trading. Rival crypto exchange Binance, for example, has come under pressure as several countries have said Binance isn't licensed to operate in their jurisdictions. "We will aim to be the easiest to use and most trusted exchange in Japan that's fully compliant with local regulations," the company said in a statement. The partnership with MUFG will give millions of people in the country access to Coinbase's (COIN) platform and start trading by offering MUFG Quick Deposit for all customers in Japan, the company said. The launch starts with a suite of five top assets based on trading volume,

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