Coinbase Inks Deal With MUFG To Set Up a Crypto Exchange in Japan

Coinbase Inks Deal With MUFG To Set Up a Crypto Exchange in Japan

by August 20, 2021

US cryptocurrency exchange Coinbase has signed a deal with banking giant Mitsubishi UFJ Financial Group (MUFG) to begin digital asset trading in Japan.

“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,” the firm said in a blog post.

Coinbase added that it 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.

It also plans to introduce more localised versions of globally popular services such as advanced trading, Coinbase for Institutions, and more in the future.

Founded in 2021, Coinbase reportedly has over 68 million users with 8.8 million monthly transacting users, and 9,000 institutions in over 100 countries to easily and securely invest, spend, save, earn, and use crypto.

“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. That’s why we are also excited to announce our partnership with Mitsubishi UFJ Financial Group (MUFG) — one of the largest banks in Japan serving 40 million Japanese customers.”


Featured image: Edited from Unsplash