Coinbase To Enter Japan’s Market Soon
June 6, 2018
The US-based crypto exchange plans coming to the Japan’s market of digital currencies within a year, as Cointelegraph Japan says.
The Japan’s crypto market is considered to be the largest in the world while Coinbase is one of the most famous and reliable platforms for trading and storing cryptocurrencies. According to Cointelegraph Japan, the exchange plans to submit application to the Financial Services Agency (FSA) for gainig cryptocurrency trading license in Japan. Remember, Japan, is the only country with financial watchdog granting official licenses for crypto exchanges.
Reportedly, Coinbase cooperates with the local banking company Mitsubishi UFJ Financial Group. The company is asserted to have been investing into the exchange for several years with total investments volume exceeding 1 billion of yen ($9 million). Cointelegraph Japan adds, the exchange plans setting focus on trading the two largest cryptocurrencies, BTC and ETH.
Note that entering the market in Japan will be another step for the exchange to expand the scope of its activity. Earlier Coinbase has already launched its own Coinbase Index Fund (CBI) and developed four products for institutional investors.