Bitcoin In Depth Articles
Japan’s Biggest Bank Invests in Bitcoin Exchange Coinbase
Bitcoin exchange and platform Coinbase has announced new investment and partnership
with the Bank of Tokyo-
Bitcoin exchange and services platform Coinbase will raise $10.5 million from Japanese investors today with the aim to launch services in Japan. Currently, Coinbase only has an Asian presence in Singapore.
Investors include the Mitsubishi UFJ Financial Group (MUFG) and the Bank of Tokyo-
In a statement, Coinbase said via its blog:-
"Partnering with leading global financial institutions is a key part of our strategy and we are thrilled to be working with BTMU."
Beyond its new investment in the cryptocurrency industry, MUFJ has notably shown
its interest in digital currencies in the past. Earlier this year, reports revealed
that MUFG had begun a trial for its own virtual currency, rumored to be called MUFG
coin. It was later rumored that MUFG was also developing a two-
The trial was then confirmed by the bank itself, and the bank-
Furthermore, Coinbase added that it is continuing its international expansion, with its new partnership with BTMU aiding its effort to focus on the Japanese market.
Coinbase has previously raised $75 million in a Series C financing round which saw
the likes of the New York Stock Exchange, military-