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Coinbase Enters Japanese Market After Completing Registration With Financial Watchdog

The move paves the way for Coinbase to begin offering five major cryptocurrencies including bitcoin and ether.

Coinbase Global Debuts Initial Public Offering At Nasdaq MarketSite

U.S. cryptocurrency exchange Coinbase is entering the Japanese market, quietly rather than with a bang.

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As originally reported by CoinDesk Japan last week, the Nasdaq-listed exchange's subsidiary registered with the Financial Services Agency (FSA), the country's financial watchdog, on June 18.

The move paves the way for Coinbase to begin offering five major cryptocurrencies including bitcoin, ether, stellar, litecoin and bitcoin cash. More currencies are expected to be added once Coinbase's registration has been finalized.

Japan's strict crypto regulatory regime is not without its payoffs as it is one of the largest regions for trading in the world and a potentially lucrative venture for those keen enough to jump through the hoops.

See also: Coinbase COIN Stock Hit With ‘Underperform’ Rating by Investment Bank Raymond James

Coinbase has been touting an entry into Japan for years and finally began making moves by engaging in a hiring spree across the country's capital of Tokyo last year.

In March 2020, Coinbase joined as a member of the Japan Virtual Currency Exchange Association, a self-regulatory organization approved by the FSA.

Sebastian Sinclair

Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.

Sebastian Sinclair