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-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....
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The largest bank in Japan, Bank of Tokyo-Mitsubishi UFJ (BTMU), has formed a strategic partnership with Coinbase to support the exchange’s long-term international expansion efforts. Some users complain about the exchange’s too strict compliance. MUFG senior manager Yuichiro Kawasaki cited the reasons behind Coinbase’s ‘strong compliance systems was to prevent wrongdoing. Another factor in play has been the Coinbase’s licenses to offer money transmission services in many U.S. states. As a part of the compliance procedures, now the exchange asks users if they are sending their coins to....
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Many people from the bitcoin community have expressed their concerns about Coinbase. Coinbase is probably one of the biggest bitcoin ventures if not the biggest. Having said that, is Coinbase becoming the bitcoin equivalent of PayPal? How damaging could that be to bitcoin's infrastructure? Coinbase does not have the features of a bitcoin wallet. As absurd as this might sound, sending and receiving bitcoin isn't everything important about a bitcoin wallet. Bitcoin wallets come with a variety of features that everyone can utilize. Being your own bank is an important point to have in mind.....
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.....