In a blog post today, Coinbase Vice President Dan Romero has announced that the exchange is moving into the Japanese market. The exchange giant have also announced that they have hired fintech expert and ex-Morgan Stanley investment banker Nao Kitazawa as their CEO.
We're excited to announce that Coinbase is coming to Japan! 🇯🇵
— Coinbase (@coinbase) June 4, 2018
In order to cement their expansion, Coinbase are already in talks with the Japanese Financial Services Authority (FSA) to ensure compliance. Romero’s post read:
As in other markets, we plan to take a deliberate approach to our rollout in Japan, which means working hand-in-hand with the Japanese FSA to ensure compliance with local laws at every stage.
And, as with some other international markets, Coinbase will be making Japanese translations available to investors, for ease of use.
Coinbase services available to Japanese customers will be provided with Japanese language translations for ease of use. We look forward to sharing more about our plans for Japan soon.
Coinbase is one of the US’ largest exchanges, with its headquarters in San Fransisco. With over 13 million users and $1 billion in revenue in 2017, it now operates in over 30 countries and is one of the world’s largest traders in Bitcoin. Meanwhile, Japan is considered a hotbed for crypto; its government officially recognizes Bitcoin as a means of payment, and the Japanese yen is thought to account for somewhere in the region of half the world’s Bitcoin trading. Assuming Coinbase’s expansion goes smoothly, the positive impact on their business, and revenue, could be enormous.
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