Coinbase enters the Japanese market

Coinbase enters the Japanese market

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The largest American cryptocurrency exchange Coinbase declared about the plans to begin work on territories of Japan. About it reported edition of Cointelegraph.

Coinbase intends to give a request on the receipt necessary license from he Financial Services Agency (FSA). From April, 2017 this process is obligatory for all organizations engaging in operations with cryptocurrencies.

There is information, that an exchange cooperates with Mitsubishi UFJ Financial Group (MUFG) for expansion to the Japanese market. A company invested a more than 1 bln yen in Coinbase.

The Japanese branch of Coinbase will support basic cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH).

Presently Coinbase provides more than 20 million clients, last year her acuests made a $1 billion Exchange starts the series of the new products sent to acquisition of large institutional customers.

Coinbase closely works with regulative organs for perfection of the standards safety.

Recently an exchange started series of the new products sent to acquisition large institutional customers, in particular, including the decision about storage, based on partnership with a strange actor consonant with SEC.

The Japanese crypto resource continues to demonstrate the quickly developing levels of acceptance crypto grams, and CT Japan alludes to recent data from Japan’s Virtual Currency Exchange Association, that estimate the amount of the Japanese crypto investors in 3,5 million.

It does him an attractive market for a foreign capital, in spite of all stricter crypto regulative climate of country. Before this week Japanese crypto exchange BitTrade was purchased in size of $ 50 million by the Singaporean businessman, that became the first foreign investor that owns a 100-percent stake in a trade platform, licensed FSA.

Coinbase, from the side, was concentrated on the close cooperating with regulative organs for perfection of the standards safety and observance, with recent reports that a company tries to get a federal bank charter for the operations in the USA.

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