Coinbase plans to enter the Japanese market in 2019

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Coinbase plans to enter the Japanese market in 2019

Executive Director of the American cryptocurrency exchanges Coinbase Mike Lempres expressed the readiness of the trading platform to gain a foothold in the Japanese market.

According to CoinDesk, citing local media, the administration of the exchange trusts to be licensed by the financial services Agency of Japan (FSA) next year. The first plans to enter the Japanese market leadership Coinbase appeared in 2016.

The company now plans to expedite work on obtaining licenses and hopes that already next year the Japanese traders will be able to perform operations on the digital assets on the platform. Lempres stressed that to obtain official permission Coinbase will have to provide oversight office the information security management system bidding.

This is especially important for Japan where only the beginning of two cryptocurrency exchanges (Coincheck in January and Zaif in September) suffered as a result of hacker attacks. The FSA recently reviewed 16 applications for licenses, but so far met only three of them.

In Coinbase confident that the system security of its trading platform is not inferior to competitors, so the administration of the platform there is no doubt that the application is approved.

Coinbase was founded in 2012 and last year had revenue of $1 billion, the Exchange serves up to 20 million accounts. The company guarantees investors the maximum security and notes that 90% of the funds of the pad is stored in cold wallets without Internet access, which minimizes the risk of hacking.

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