TOKYO—Coinbase is launching in Japan in partnership with Mitsubishi UFJ Financial Group (MUFG) as part of the leading crypto exchange’s global strategy.
Coinbase announced that the digital asset exchange is entering the Japanese market as part of the firm’s strategy to gather market share from one of the largest crypto markets in terms of digital currency trading volume, FX Street reported.
The major crypto exchange said it aims to be the easiest to use and most trusted exchange in the Asian country.
Coinbase is fully compliant with local regulations in Japan, and the firm has partnered with one of the largest banks in the country, MUFG, serving 40 million customers. FX Street noted.
On & Off Ramp
The announcement also explained that customers in Japan would be able to access fiat-on and off-ramp using MUFG’s Quick Deposit services.
Coinbase will support the five largest cryptocurrencies by trading volume initially in Japan. Customers in the country will be able to purchase Bitcoin, Ether, Litecoin, Bitcoin Cash and Stellar at first, and the exchange will move to support more assets in the coming months.