With a whimper, the United States renowned cryptocurrency exchange Coinbase has quietly entered the Japanese Market.
As reported earlier last week, the Nasdaq-listed exchange’s subsidiary registered with the FSA [Financial Services Agency], the country’s financial watchdog on 18th June.
The move paves the way for Coinbase to start offering five leading crypto assets along with Bitcoin [BTC], Ethereum [ETH], Stellar [XLM], Litecoin [LTC], and Bitcoin Cash [BCH]. More currencies are expected to be added once Coinbase’s registration has been finalized.
Japan’s strict cryptocurrency regulatory regime isn’t without its payoffs as it is one of the most important regions for trading within the world and a potentially lucrative venture for those keen enough to leap through the hoops.
Coinbase has been touting an entry into Japan for years and eventually began making moves by engaging within a hiring spree across the country’s capital of Tokyo last year.
Earlier in March last year, Coinbase joined as a member of the Japan Virtual Currency Exchange Association, a self-regulatory organization recognized by the FSA.