Coinbase Suspends Canadian Dollar Services Amid $10.5M Raise From Bank of Tokyo-Mitsubishi UFJ

Bitcoin exchange and platform Coinbase has announced new investment and partnership with the Bank of Tokyo-Mitsubishi UFJ (BMTU), Japan’s biggest bank. The endeavor will see Coinbase look toward expansion efforts in Japan and Asia. 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-Mitsubishi UFJ (BMTU) Japan’s largest lender and bank, respectively. The....

Bitcoin exchange provider Coinbase has raised $10.5m in new funding from investors including Bank of Tokyo Mitsubishi UFJ, Mitsubishi UFJ Capital and Silicon Valley VC firm Sozo Ventures. The investment coincides with the announcement that MUFG subsidiary Bank of Tokyo Mitsubishi UFJ has entered into a strategic partnership with Coinbase, and follows rumors the San Francisco startup had been working on a proof-of-concept with an unknown Asian bank. In statements, Coinbase said that the partnership will help it bridge the gap between blockchains and the traditional financial industry.....

Coinbase, the leading cryptocurrency company has today announced its partnership with a leading Japanese financial institution, Mitsubishi UFJ Financial Group Inc. (NYSE : MTU). The partnership involves Mitsubishi Financial and others making a considerable investment of $10.5 million in the digital currency company. The recent influx of investment will play a very important role in Coinbase’s future as it will help the company in its expansion spree. At the same time, the investment in Coinbase makes it the first investment for Mitsubishi UFJ Financial Group in the digital currency sector.....

Considering how the Bank of Tokyo is part of the Mitsubishi UFJ Financial Group. the name of their new digital currency will be MUFG Coin. The Bitcoin protocol and its underlying blockchain technology have thrown traditional finance a curveball they never expected. Digital currency allows for global financial services, regardless of existing infrastructure provided by banks or governments. It was only a matter of time until banks decided to look into this technology more, and eventually, issue their own digital currency. The Bank of Tokyo – Mitsubishi UFJ is looking to issue their version....

According to a report, the Bank of Tokyo-Mitsubishi UFJ Ltd., Japan’s largest bank will soon become the world’s first global bank to issue its own digital currency. A new bank-issued virtual currency may be in the offing next year. Dubbed “MUFG coin”, short for the Mitsubishi UFJ Financial Group — the parent company of the Bank of Tokyo-Mitsubishi – the bank, will issue the virtual currency in the autumn of 2017, according to a report on The Asahi Shimbun, a prominent national newspaper in Japan. The publication cites sources who reveal that the virtual currency will help facilitate....