Topic: [2018-05-04] Coinbase plan to join Japanese Market within the year! (Read 63 times)
The Japanese market is one of the most important for cryptocurrency exchanges and it is natural that Coinbase is expanding there. It will not be easy for Coinbase, with multiple exchanges already operating and competition being tough. Coinbase is thought to be ideal for newbies - fees is a bit steep, but ease of use and interface are good. Not sure if those are the most important features in the Japanese market.
June 04, 2018, 05:26:27 PM
On only makes for them to try and enter the Japanese market as we all know how Japanese are really into crypto, and they are thinking big $$$ here, although they have to pass some FSA paper works but its gonna be easy for them as they are already established though.
So more competition means better services, so let see how it goes. I'm hoping that this will be viewed as a positive news for the whole crypto market and not something that will frown the Japanese market. Again, the main concern here is security and I do hope that Coinbase based on their experience will provide top notch services not only to the Japanese market but to the whole crypto user based.
So more competition means better services, so let see how it goes. I'm hoping that this will be viewed as a positive news for the whole crypto market and not something that will frown the Japanese market. Again, the main concern here is security and I do hope that Coinbase based on their experience will provide top notch services not only to the Japanese market but to the whole crypto user based.
June 04, 2018, 10:22:43 AM
Leading US Crypto Exchange Coinbase to Expand to Japanese Market
Major US crypto wallet provider and exchange service Coinbase has revealed its plans to enter the Japanese crypto market, Cointelegraph Japan reported Monday, June 4.
Coinbase intends to apply for a license with the country’s financial regulator, the Financial Services Agency (FSA), “within the year,” a process that has been mandatory for all crypto exchanges operating within the country since the amendment of Japan’s Payment Services Act in April 2017.
The US company is said to be working together with Mitsubishi UFJ Financial Group (MUFG) on its expansion to the Japanese market. According to CT Japan, MUFG has invested over 1 bln yen in Coinbase since 2004 through Mitsubishi UFJ Bank and Mitsubishi UFJ Capital, among others.
CT Japan further reports that Coinbase’s Japanese trading service will focus on supporting major digital currencies such as Bitcoin (BTC) and Ethereum (ETH).
As Cointelegraph previously reported, Coinbase already has over 20 mln customers and has to date traded $150 bln in digital assets on its exchange platform. In 2017, it reported $1 bln in revenue, according to figures from Recode, and reportedly valued itself at around $8 bln in an acquisition deal this spring.
The exchange has recently launched a series of new products aimed at attracting major institutional clients - notably including a custody solution established in partnership with an SEC-compliant third-party actor.
Japan’s crypto market continues to show booming crypto adoption levels, with CT Japan citing recent figures from Japan’s Virtual Currency Exchange Association that estimate the number of Japanese crypto investors at 3.5 million.
This makes it an attractive market for foreign capital, notwithstanding the country’s increasingly stringent crypto regulatory climate. Earlier this week, Japanese crypto exchange BitTrade was acquired for $50 mln by a Singaporean entrepreneur, who became the first foreign investor to hold a 100 percent stake in an FSA-licensed trading platform.
Coinbase, for its part, has focused on working closely with regulators to improve its security and compliance standards, with recent reports emerging that the company is attempting to obtain a federal banking charter for its US operations.
Source: https://cointelegraph.com/news/leading-us-crypto-exchange-coinbase-to-expand-to-japanese-market
Major US crypto wallet provider and exchange service Coinbase has revealed its plans to enter the Japanese crypto market, Cointelegraph Japan reported Monday, June 4.
Coinbase intends to apply for a license with the country’s financial regulator, the Financial Services Agency (FSA), “within the year,” a process that has been mandatory for all crypto exchanges operating within the country since the amendment of Japan’s Payment Services Act in April 2017.
The US company is said to be working together with Mitsubishi UFJ Financial Group (MUFG) on its expansion to the Japanese market. According to CT Japan, MUFG has invested over 1 bln yen in Coinbase since 2004 through Mitsubishi UFJ Bank and Mitsubishi UFJ Capital, among others.
CT Japan further reports that Coinbase’s Japanese trading service will focus on supporting major digital currencies such as Bitcoin (BTC) and Ethereum (ETH).
As Cointelegraph previously reported, Coinbase already has over 20 mln customers and has to date traded $150 bln in digital assets on its exchange platform. In 2017, it reported $1 bln in revenue, according to figures from Recode, and reportedly valued itself at around $8 bln in an acquisition deal this spring.
The exchange has recently launched a series of new products aimed at attracting major institutional clients - notably including a custody solution established in partnership with an SEC-compliant third-party actor.
Japan’s crypto market continues to show booming crypto adoption levels, with CT Japan citing recent figures from Japan’s Virtual Currency Exchange Association that estimate the number of Japanese crypto investors at 3.5 million.
This makes it an attractive market for foreign capital, notwithstanding the country’s increasingly stringent crypto regulatory climate. Earlier this week, Japanese crypto exchange BitTrade was acquired for $50 mln by a Singaporean entrepreneur, who became the first foreign investor to hold a 100 percent stake in an FSA-licensed trading platform.
Coinbase, for its part, has focused on working closely with regulators to improve its security and compliance standards, with recent reports emerging that the company is attempting to obtain a federal banking charter for its US operations.
Source: https://cointelegraph.com/news/leading-us-crypto-exchange-coinbase-to-expand-to-japanese-market
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