According to CCNto reportAccording to CCN
to report
, the largest cryptocurrency exchange in the United States, Coinbase, officially announced its entry into the Japanese market. It has established a Japanese office and appointed a CEO. Prior to this, Coinbase has contacted the Japanese Financial Services Agency (FSA), and Coinbase will apply for registration and registration within this year in accordance with the policy in order to legally conduct business.
This is in line with Coinbases globalization strategy. Outside of its headquarters in San Francisco, Coinbase has set up multiple offices, operates in 32 countries around the world, has more than 20 million accounts, and manages more than $20 billion in assets. Coinbase CEO Armstrong also said in an interview with The Washington Post recently that new offices will be added in North America, Europe and Asia this year. Before announcing its entry into Japan, Coinbases only presence in Asia was in Singapore.
Japan is one of the largest cryptocurrency markets in the world, and the policy recognizes cryptocurrency exchanges. Therefore, it is only a matter of time before Coinbase enters. According to the FSAs revised Fund Settlement Law, as long as an application is submitted and approved, a cryptocurrency exchange can be operated in Japan. Coinbase had this plan nearly two years ago. At the time, Coinbase raised $10.5 million from Japanese investors, including Bank of Tokyo-Mitsubishi UFJ, one of Japans largest financial services groups.
