The new trading platform will be created in partnership with the Mitsubishi UFJ Financial Group
Coinbase, the largest cryptocurrency exchange in the United States, has announced the launch of a trading platform in Japan.
The company said in a statement that the site will comply with Japanese regulatory standards. The new exchange will be created by Coinbase in partnership with Mitsubishi UFJ Financial Group (MUFG).
🇯🇵BIG NEWS!🇯🇵
We’re excited to be launching Coinbase in Japan, one of the first countries to embrace crypto and one of the largest markets by crypto trading volume in the world.
Details here 👇https://t.co/ZhsYiE3L2a
— Coinbase (@coinbase) August 19, 2021
Initially, the exchange will target retail customers and offer them five main cryptoassets – which ones, Coinbase did not say in the statement.
In the future, the company plans to expand the list of available products for corporate clients, as well as increase the number of available assets.
Coinbase is the largest cryptocurrency exchange in the United States. The site stores user assets worth more than $ 180 billion.
In a letter to shareholders, the trading platform reported that its revenue for the second quarter of 2021 was $ 2.2 billion.
In April of this year, Coinbase became the world’s first public crypto exchange – it held a public listing on NASDAQ ( without an IPO procedure).