Coinbase Lands in Japan, Pairing with Mitsubishi UFJ Financial Group to Expand Crypto Trading

US cryptocurrency exchange Coinbase announced Thursday that it has partnered with Japan's largest bank Mitsubishi UFJ Financial Group (MUFG), to expand cryptocurrency trading in Japan.

The cooperation between Coinbase and the banking giant Mitsubishi UFJ Financial Group, which has 40 million Japanese customers, is fully in line with its strategic goals for global development, Coinbase said in the announcement. 

In addition, the announcement reads:

"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."

Japan is currently one of the largest markets for cryptocurrency transactions in the world. Coinbase will be the first to launch retail products, including five top assets based on transaction volume.

This cooperation supports Japanese customers through MUFG's fast deposit service and has become a fast legal currency in and out service to start trading on the Coinbase trading platform.

In addition, The firm led by CEO Brian Armstrong said that this is just the beginning and that it will provide more diversified assets and products in the future.

"We also plan to introduce more localized versions of globally popular services such as advanced trading, Coinbase for Institutions, and more in the future."

In addition to opening up the trading market, Coinbase has also been committed to providing customers with more fast trading methods.

As reported by Blockchain.News on August 6, Coinbase has provided customers with more payment methods for transactions by allowing users to use Apple Pay to purchase cryptocurrency assets on its trading platform.