Will Coinbase Open A Japanese Exchange To Strengthen Position?

Coinbase the gigantic cryptocurrency exchange from the USA could be on a way to strengthen its position in Japan, one of the most crypto-friendly countries in the world. Looking from the job offers by Coinbase on their website, they are looking for an office manager that has accountancy, human resources and management skills. The job requirements specify that the applicant must speak Japanese and English and that he will be based in Tokyo. The question of will Coinbase open a Japanese exchange remains to be answered in today’s coinbase news.

Coinbase Japan is also looking for an anti-money laundering (AML) officer/ compliance lead posting in Tokyo and is looking for a new head of its marketing department, which could mean that Coinbase is on the track to start a Japanese exchange. Previously Coinbase publicized that it wants to expand into the Japanese crypto market, and has applied an application with the regulatory Financial Services Agency (FSA). The firm has been present in Japan since April 2017 and has made numerous crucial hires.

Nao Kitazawa is the Coinbase general manager in Japan as written on his LinkedIn profile. A graduate of the University of Pennsylvania Carey Law School Kitazawa is also a former JPMorgan vice president. The Coinbase team in Japan has as it member Yuko Nozaka, a former FSA official and compliance expert. The team has a long experience in the crypto and blockchain industry but also in the financial area which is why it is expected to have a positive result.

The Japanese cryptocurrency exchange sector is dominated by domestic companies, with huge companies like the chat app Line, e-commerce platform Rakuten and financial services giant SBI recently opening FSA-licensed exchanges. The only worthy foreign company that is fighting for its place in the market is Huobi Japan that not while ago, got an investment boost heavy USD 4.6 million from broker house Tokai Tokyo. Will Coinbase launch an exchange just to enhance the presence in that region or does it have something else in mind? Also, as per the recent reports, New bitcoin tech is under development by the crypto exchange giant Coinbase as the cryptocurrency struggled to catch up to the traditional financial system’s digital ease of use.