US-based cryptocurrency exchange Coinbase has just announced its entry into the Japanese market in partnership with financial giant Mitsubishi UFJ Financial Group (MUFG).
Together, the two companies plan to launch Coinbase Japan, a platform "fully compliant with local regulations."
According to the statement, the partnership with Mitsubishi UFJ Financial Group, which offers its services to around 40 million customers, aims to ensure that fiat deposits and withdrawals can be made from the very first day.
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Initially, Coinbase Japan will offer retail products to Japanese customers, including "five top assets" that the company has not disclosed.
A user has posted a snippet of the application submitted by Coinbase to register with Japan's Financial Services Agency. The company mentions Bitcoin, Ether, Litecoin, Bitcoin Cash and Stellar Lumen.
Coinbase has plans to add new assets to the Japanese platform in the future as well as localize its products and services, including those aimed at corporate clients.