Coinbase Teams Up With MUFG to Start Japan Crypto Exchange
- Japan head at Coinbase aims to recruit product developers
- Coinbase Japan starts with trading for five digital tokens
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Coinbase Global Inc. teamed up with Mitsubishi UFJ Financial Group Inc. to start a cryptocurrency exchange in Japan, which allows account holders at the nation’s biggest bank to buy and sell virtual currencies.
The largest U.S. cryptocurrency exchange got regulatory approval earlier this year in Japan, where 31 companies are registered to trade the assets, and faces local competition from companies such as Coincheck Inc. that’s owned by Monex Group Inc. and GMO Coin Inc.