Coinbase has announced the launch of its platform in Japan. The largest US exchange has entered a partnership with one of the largest banks Mitsubishi UFJ Financial Group (MUFG). The financial holding company serves over 40 million users in Japan.
The company’s official announcement states that the site will comply with all Japanese regulations. Five major cryptocurrencies (Bitcoin, Ethereum, Litecoin, Bitcoin cash, and Stellar) will be launched to begin with, followed by other assets and products.
“Partnering with MUFG will help millions of Japanese people quickly access our platform, who can start trading on Coinbase using the dedicated MUFG Quick Deposit product,” declares the Coinbase announcement.
To begin with, the exchange is going to work with retail clients, and only thereafter it will start interacting with corporate clients.
The largest cryptocurrency exchange has long planned to occupy the financial market in Japan. Back last year, Coinbase was licensed by the Japan Financial Services Agency (FSA).