Coinbase in Japan – Ripple [XRP] adoption or just Mitsubishi partnership?

On June 4th, Coinbase announced the launch of Coinbase’s office in Japan on its official blog. This is an effort to speed up the adoption of cryptocurrencies across the globe.

Coinbase will also ensure that they comply with all the local laws while working closely with the Japanese Financial Services Agency [FSA].

Additionally, Coinbase, the US-based digital currency exchange platform also welcomed FinTech leader, Nao Kitazawa, who will be the CEO of Coinbase’s new branch in Japan. He will not only work on their vision of ‘creating an open financial system for the world’ but also take charge of building a world-class team in Japan. Nao’s financial background and passion for cryptocurrency will be of great advantage.

Japanese translations will make Coinbase’s services more user-friendly.

The blog post stated:

“As a regulated, compliant crypto company in the U.S., we will focus on building that same level trust with new customers in Japan.”

No further details were provided, however, the post mentioned that more plans for Japan will be shared soon.

Fans continue the XRP rant, desperately hoping that Coinbase would now add Ripple [XRP] to its platform. They said,

Crypto Gao, tweeted:

“Japan doesn’t only want 4 coins, add the 5th coin of XRP”

Nhân Phan, a part-time accountant commented:

“I will forgive you if you add XRP, if not please add TRX or EOS”

Satoshi Moses, another Twitter user commented:

“Everybody knows that Japan is big on XRP and you won’t add it so nobody cares. I pass on the gatekeeper type business model @coinbase has. They are just a control pump and dump exchange that charges large fees. There are better exchanges with better fees. I pass!”

Tony Crino, tweeted:

“Japan doesn’t need @coinbase. Japan has SBI Virtual Currencies. Sounds to me like Coinbase is worried they’ll miss out. Too late! That’s what happens when you don’t listen to your customers.”

Coinbase, the US organization is said to cooperate with Mitsubishi UFJ Financial Group [MUFG] on its extension to the Japanese market. As indicated by CT Japan, MUFG has put more than 1 billion yen in Coinbase since 2004 through Mitsubishi UFJ Bank and Mitsubishi UFJ Capital.

The crypto-world is acquainted with Coinbase and Ripple’s long-term controversy as well as the partnership of  Mitsubishi and Ripple. Nevertheless, the friendship of Ripple with Mitsubishi has risen the hopes of adding XRP to the Coinbase platform.

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