Coinbase has announced that it has launched in Japan, according to a blog post published on Aug 19. The move marks yet another step by Coinbase to reach a more global audience, which it must do to compete with the likes of Binance.
The exchange says that the launch is in line with its global expansion and that it will be fully compliant with regulation. To support this, it has also formed a partnership with the Mitsubishi UFJ Financial Group (MUFG), one of Japan’s largest banks. This could give Coinbase a real boost, as the bank serves over 40 million customers.
Japan is a country whose citizens are extremely keen on the crypto market, as Coinbase rightly notes in saying that it was among the first to embrace crypto. Consequently, the government has stepped in to regulate it in the past few years.