Coinbase launched its office in Japan, and the exchange platform made the announcement a couple of days ago on June 4. This is definitely another step ahead in the company’s support of extending and speeding up cryptocurrencies adoption around the world. The company will also have to make sure that it follows all the local laws there while working with the Japanese Financial Services Agency (FSA).
Japan Coinbase branch chooses its CEO
Another great news involving the exchange platform is that they welcomed on board the FinTech leader Nao Kitazawa to be the CEO of the Japan branch of the company. He will be responsible of developing and supporting the company’s vision of creating an open financial system for the whole world, and he will also become in charge of the process of building a world-class team in Japan. Nao has extensive financial experience, and another great advantage will be his passion for the crypto space. You can read more about Nao’s expertise in Coinbase’s blog post.
Coinbase is a regulated compliant crypto company is the U.S., and they will “focus on building that same level of trust with new customers in Japan,” according to the official announcement.
“The Upon our business registration with the FSA, Coinbase services available to Japanese customers will be provided with Japanese language translations for ease of use,” the blog post concludes.
There are no more details available for the moment, but the same announcement mentions that more plans will be shared soon.
Potential Ripple (XRP) adoption
Speculation that Coinbase will add Ripple (XRP) to its listing has been floating around for quite a while now. Lots of voices od crypto enthusiasts are anxiously waiting for the exchange platform to add the coin. Now, something more is fueling the rumors. It seems that Coinbase will cooperate with Mitsubishi UJF Financial Group MUFG on extending to the Japanese market.
MUFG put more than 1 billion yen in Coinbase since 2004 via Mitsubishi UFJ Bank and Mitsubishi UFJ Capital.
The crypto space knows that there’s a partnership between Mitsubishi and Ripple and this is the main hint that raised hopes that the cryptocurrency will get listed on the exchange platform. We’ll just have to wait and see whether these speculations turn out correct.