Crypto adoption is on the rise, and for that very matter, new alliances are being cultivated that can accelerate the adoption and inhabitation process. One such example is the merging of Coinbase with Mitsubishi UFG, a Japanese financial giant, to start its crypto operations there. They are about to initiate a launch in Japan in the upcoming months as they were getting ready for the event all this time. According to Coinbase, the launch is an integral part of the exchange’s policy for a global expansion, and starting its operation in japan will only provide the exchange with more gravitas and a strong pull within the Asian markets.
One of the most direct benefits that Coinbase is going to get with their partnership with MUFG is the availability of all that customer base in Japan with over 40 million customers. The original plan here is that Coinbase can just use the easier deposit feature already in place by the MUFG, making it easier for all that clientele to purchase, sell, and hold crypto in the most convenient way possible.
Coinbase Plans to Expand its Operations in Japan
It will be a much more scalable event as people already know a great deal about the MUFG deposit methods. They are pretty exposed to that, so all Coinbase has to do is drop a support system allowing those customers to get access to the crypto market. This is something that can be arranged rather easily, which is a winning position for Coinbase.
There have been various hacks and meltdowns in the past in Japan, these shook people down to their cores, and it was presumed that crypto adoption was a lost feat in japan, but Coinbase has proven a ray of light in the dark, and it seems that Japan might pull through after all. Binance has had its fair share of troubles in japan as the exchange melted back in May, and a lot was lost in terms of savings and other reserves and many users have taken it to themselves to take legal action against Binance; hopefully, it will not mingle with the Coinbase’s operation that is about to begin in the country.