The US-based world’s largest cryptocurrency exchange has announced the launch of its services in Japan. For its Japanese arm, Coinbase has partnered with Japan’s top banking company the Mitsubishi UFJ Financial Group (MUFG).
Coinbase CEO, Brian Armstrong confirmed on Thursday, August 19 that initially the exchange would launch retail products. Currently, it would provide support for the top 5 most popular crypto assets and gradually extend their offerings in the coming months.
“We also plan to introduce more localized versions of globally popular services such as advanced trading, Coinbase for Institutions, and more in the future,” he explained.
In the announcement, the exchange also said: “In line with our global strategy, we will aim to be the easiest to use and most trusted exchange in Japan that’s fully compliant with local regulations.”
Coinbase is the largest cryptocurrency exchange and the first to get listed. Earlier in the year, Coinbase got listed on the Nasdaq after securing the necessary permits from the US Securities and Exchange Commission (SEC). In its recent quarterly report, Coinbase also posted a whopping 4900% increase in year-on-year revenue.