San Francisco-based Coinbase has announced that it is opening an office in Japan as part of its ongoing expansion effort, according to a company blog post published on Monday. The exchange giant also announced that former Morgan Stanley investment banker Nao Kitazawa has been selected to serve as the new branch’s CEO.
Coinbase GM Dan Romero offered high praise for Kitazawa:
“Nao is a leader in the fintech space and we are excited to have him at the helm of our new push into Japan. As the CEO of Coinbase Japan, he will be charged with building a world-class in-country team and ensuring that we deliver on our vision of creating an open financial system for the world.”
The post also confirmed that Coinbase will be working with Japanese regulators to ensure that the company is compliant with all relevant laws and regulations:
“As in other markets, we plan to take a deliberate approach to our rollout in Japan, which means working hand-in-hand with the Japanese FSA to ensure compliance with local laws at every stage.”
The company will now move to secure registration with Japan’s Financial Services Agency. Once that is accomplished, Coinbase plans to provide Japanese users with Japanese translations for all its services. Meanwhile, a Bloomberg report suggests that the exchange could turn to Mitsubishi UFJ Financial Group Inc. for banking services within Japan.