Coinbase Penetrating Japanese Market

Digital currency exchange giant is officially taking off in Japan. Coinbase is already accessible in 32 countries, and they have just announced that they will be launching in Japan. It makes sense, due to Japan being one of the largest crypto markets in the global crypto market. San Francisco based Coinbase stated that they will be working closely with Japan’s financial regulators and the Financial Services Agency (FSA). Coinbase was trying to open business in Japan for two years now, ever since it received $10.5 million from Japanese investors. Former investment banker for Morgan Stanley Japan, Nao Kitazawa, will be heading the Coinbase Japan office and has been hired on as the Chief Executive. Kitazawa is also on the board of the Fintech Association of Japan. This was an obvious move for Coinbase, as they have already set up shop in another lucrative Asian market, Singapore. Japan passed laws back in April of 2017 to allow and acknowledge digital currencies like Bitcoin, as a formal payment method. Since the passing of this legislation, other giants such as Yahoo Japan, brokerage company Monex, and financial services company SBI, have dived into investing and running their own digital currency platforms in Japan.

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