Crypto exchange Coinbase is entering the Japanese market through its partnership with Japanese monetary giant Mitsubishi UFJ Financial Group (MUFG).
Coinbase mentioned in an announcement on Wednesday that it’s launching Coinbase Japan as a part of its global strategy in one of the largest markets by crypto trading volumes.
“In keeping with our world strategy, we’ll aim to be the easiest to make use of and most trusted exchange in Japan that’s absolutely compliant with local regulations,” the agency mentioned within the assertion. “That’s why we’re also excited to announce our partnership with MUFG — one of many largest banks in Japan serving 40 million Japanese customers.”
The partnership will give Japanese customers access to fiat on- and off-ramp through MUFG’s Quick Deposit services, in accordance with the statement.
The exchange mentioned it is going to initially assist the trading for the five largest crypto assets by buying and selling quantity with extra assets to return in the coming months however didn’t provide particular names.
Coinbase mentioned it plans to launch different localized variations of its existing global services such as advanced trading and Coinbase for Institutions.