Coinbase Inc., one of the biggest digital currency exchanges in U.S. is all set to open up an office in Japan. Nao Kitazawa has been roped in as the chief executive officer of the new branch and will lead Bitcoin Exchange. By setting up an office in Japan, Coinbase is expanding into one of the worlds sought after crypto markets. The company has served more than 20 millions crypto customers.
San Francisco-based company, Coinbase functions in 32 countries, and by opening an office in Japan, it will broaden its influence even further. Nao Kitazawa who worked earlier as investment banker at Morgan Stanley, will lead the new branch.
The exchange operator which requires a license to function in Japan is in talks with Japan’s Financial Services Agency (FSA). Upon securing a license, Mitsubishi UFJ Financial Group Inc (MUFG) will be Coinbase’s banking partner. MUFG partnered with Coinbase way back in 2016 to support its expansion efforts on the international front.
Coinbase has high regards for Nao Kitazawa and is convinced that the company will touch new heights under his able leadership. Kitazawa, as per Coinbase’s blog post will lay the foundation for crypto investors in Japan to access the various products of Coinbase.
As in other markets, we plan to take a deliberate approach to our roll out in Japan, which means working hand-in-hand with the Japanese FSA to ensure compliance with local laws at every stage. As a regulated, compliant crypto company in the U.S., we will focus on building that same level trust with new customers in Japan.
Nao Kitazawa, and his role in Japan’s Coinbase
Apart from being a leader in fintech space (He is part of the board of the Fintech Association of Japan), Nao Kitazawa is very passionate about cryptocurrency. This when combined with his extensive background provides Coinbase with a solid foundation, thereby enabling it to make its way into the world’s largest cryptocurrency market.
To add to his extensive experience, it must be mentioned here that Nao Kitazawa also worked in an international law firm for many years handling finance and real estate related cases in Japan and New York. It is no wonder why Coinbase has chosen him to expand their Bitcoin and other cryptocurrency business in Japan.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]