Coinbase is currently one of the most popular digital currency exchanges. At the moment this exchange has big plans. Recently, this exchange announced that it would soon step in the Japanese digital currency market. The exchange plans to establish an office in Japan very soon.
The best part is that the digital currency exchange plans to operate legally and wants to follow the rules and regulations set by the Financial Services Agency of Japan. This is one of the reasons that the investors should invest their trust in this exchange.
When the exchange complies with the rules set by Financial Services Agency, then the investors can look forward to a transparent operation. Coinbase already has the honor of operating in about 32 countries. It has a massive client portfolio, and the number of users is more than 20 million.
It seems that Coinbase was planning to expand its operation in Japan since 2016. It seems that Coinbase wants to play safe and wants to follow all the rules before stepping into the crypto market in Japan. Just recently Payment Services Act became effective in Japan, and now it is mandatory to acquire a license to operate in Japan.
At the moment there are about 16 digital currency exchanges that are licensed. This means that it is the appropriate time for Coinbase to step into the crypto market since it does not have a lot of competitors currently.
If the exchange follows the terms of the Financial Services Agency, then it seems that it will not have any issues in its operation. However, it is important that Coinbase should live up to the expectations of the users. It should promote the same level of transparency in Japan as it promotes in other countries. Only then the Japanese residents will be keen to opt for this exchange.
The Japanese residents should also see Coinbase as an investment opportunity. They should make sure that they gain necessary insight about this exchange so that they can make the most of the perks that are offered by this exchange.
If all goes well, then the operation of Coinbase in Japan will turn out to be a big milestone. It will promote the success of digital currency in Japan, and more investors will be keen to acquire the services of this exchange. However, the conclusion can be drawn about the future of Coinbase in Japan once all the legalities are completed.