Coinbase announced its new launch in Japan along with a new partnership with Mitsubishi UFJ Financial Group (MUFG) on Thursday.
The company released the news through a blog post on August 19. Coinbase is partnering with one of the largest banks in Japan and plans to further expand its services. The move was published after the country’s regulator gave the crypto exchange permission to operate.
“Today we are excited to be launching Coinbase in Japan, one of the first countries to embrace crypto and one of the largest markets by crypto trading volumes in the world.”
The top virtual currency exchange in the United States will launch retail trading products and among them five top assets. The selection is based on trading volume, and many more products are expected to be listed in the near future.
“We will be launching retail products first including a suite of five top assets based on trading volume and will add more assets and products in the coming months. We also plan to introduce more localized versions of globally popular services such as advanced trading.
Mitsubishi UFJ Financial Group will provide Coinbase users “MUFG Quick Deposit” which is fast fiat on-and-off ramp. Customers in the country will be able to purchase bitcoin, ether, stellar, litecoin, and bitcoin cash.
“Our partnership with MUFG will help millions of people in Japan access our platform quickly and begin trading on our exchange by offering MUFG Quick Deposit for all customers in Japan from day one.”