Coinbase is ready to push their crypto services in Japan. To work under the full legal and regulatory framework they established a partnership with MUFG.
Coinbase is the biggest crypto Exchange of the U.S. But recent activities of the Coinbase team shows that they are tremendously expanding their services to target the users from the whole world.
Now Coinbase will operate their services officially for Japanese crypto users. According to the published blog post by Coinbase, they established a partnership with the Mitsubishi UFJ Financial Group (MUFG).
MUFG is a Japanese bank and it has around 40 million users. So partnership of MUFG & Coinbase together will not only help to service their services to the Japanese citizens but also Coinbase will get potentially huge numbers of crypto users.
According to Coinbase base, The main purpose of the partnership with the MUFG is to serve their crypto services under full regulation rules and under the compliance of Japanese regulators’ boundation. So the services will be trusted and reliable for the Japanese users.
The official crypto law still doesn’t exist in Japan. But the recent frw years activities by the Japanese government authorities indicates that they will legalise. And also it has been seen that Japan didn’t say that they will ban crypto. But most of the indications are that Japan will regulate crypto activities under high restriction rules.