News19 August 2021

Coinbase Launches Services in Japan and Partners with MUFG

Coinbase partners with MUFG

Summary

  • Coinbase starts offering crypto trading services in Japan
  • It got its trading licenses back in June
  • Only five tokens are currently available on the platform
  • Coinbase clients to access banking services from MUFG

On Thursday, Coinbase announced the official launch of its services in Japan and collaboration with MUFG.

The Coinbase trading platform will only support trading with the top five cryptocurrencies during the initial stages, with plans to add more options in the coming months.

In the official announcement, Coinbase noted that this was just the beginning of a long-term commitment by the largest American cryptocurrency exchange to increase the adaptation of crypto trading in Japan as they plan to deliver the best products for Japanese clients.

This is a big banking partnership

Coinbase has also collaborated with MUFG (Mitsubishi UFJ Financial Group), a Japanese financial conglomerate, to allow local Coinbase clients to access banking services to facilitate digital assets trading with fiats.

The entrance of Coinbase into the Japanese market comes as no surprise. In 2018, the exchange launched its first Japanese office, where it cited big plans for the country in the coming years. In June, the exchange obtained licenses to operate from Japan’s Financial Services Agency (FSA). These licenses approve Coinbase to deliver digital trading services where users can trade Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Stellar Lumen (XLM).

Kibet Elikana
Write a comment