Coinbase heads toward Japan

[tranthidung]

Coinbase launches in Japan

In line with our global strategy, we will aim to be the easiest to use and most trusted exchange in Japan that’s fully compliant with local regulations. That’s why we are also excited to announce our partnership with Mitsubishi UFJ Financial Group (MUFG) — one of the largest banks in Japan serving 40 million Japanese customers. Our partnership with MUFG will help millions of people in Japan access our platform quickly and begin trading on our exchange by offering MUFG Quick Deposit for all customers in Japan from day one.

If you don't know, I share. The Asian market is big and Coinbase have due diligent reasons to expand their market to Asia, especially Japan first.

• Bitcoin Gains by Country: Who Benefited the Most from the 2020 Boom?
• Vietnam, India Top Measure of Crypto Adoption by Individuals

In 2020, Japan is the third biggest gain nation in the ranking

What will be the next nation after Japan? The crypto adoption in Asia markets is very good.
The 2021 Global Crypto Adoption Index: Worldwide Adoption Jumps Over 880% With P2P Platforms Driving Cryptocurrency Usage in Emerging Markets

In Asia, the national adoption are changing very fast. You can compare results from 2020 and 2021 reports.

• The 2020 Geography of Cryptocurrency Report

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[mk4]

So.. just literally right after Liquid, a Japanese exchange gets hacked[1] lol. Intentional or unintentional timing, extremely great timing for Coinbase lol.

[1] https://cointelegraph.com/news/breaking-liquid-exchange-hacked-to-the-tune-of-80-million

[tranthidung]

So.. just literally right after Liquid, a Japanese exchange gets hacked[1] lol. Intentional or unintentional timing, extremely great timing for Coinbase lol.

[1] https://cointelegraph.com/news/breaking-liquid-exchange-hacked-to-the-tune-of-80-million

Hacks are released when market looks to have corrections and I don't think it is coincidence between the market price and hack news.

The market expansion of Coinbase is good for them and for the market long term. It makes noise, creates more exposures and attract new crypto investors.

[mk4]

Hacks are released when market looks to have corrections and I don't think it is coincidence between the market price and hack news.

Am I misunderstanding this, or are you saying that exchange hacks only occur when it seems like price corrections are going to be imminent?

[Bitcoin_Arena]

Hacks are released when market looks to have corrections and I don't think it is coincidence between the market price and hack news.

On the bigger time intervals, the Market hasn't been on a correction lately, has it? I bet it's just a concidence.

Remember the Kucoin and Binance hacks?
I think the market just reacts to the news of the hack and not the other way round. Insider information about a hack on one exchange, most especially an average one like liquid can't hugely influence the market.

[hugeblack]

I don't think it has to do with how profitable Bitcoin is as much as the platform wants to expand and the best friend of US laws would be Japan.
Coinbase turns into a bank that offers the average user the services of obtaining cryptocurrencies in a safe and fast manner, and therefore the time is right to enter many markets instead of waiting.

So.. just literally right after Liquid, a Japanese exchange gets hacked[1] lol. Intentional or unintentional timing, extremely great timing for Coinbase lol.

Coinbase are always lucky to do this kind of thing, I remember the perfect time when their shares were first floated.

[tranthidung]

are you saying that exchange hacks only occur when it seems like price corrections are going to be imminent?

I don't conclude anything but I see it happens like this many times. It could be because a growth catches more hackers, and they finish their works to hack exchanges before the price correction.

Or it is not a coincidence.

On the bigger time intervals, the Market hasn't been on a correction lately, has it? I bet it's just a concidence.

It's true but here we are discussing about short term effects from FUD, hack news, etc. Like there were massive FUD on Bitcoin after it rose to more than $64k. Big FUD campaign with participation from governments.

[buwaytress]

Honestly, can't wait for Coinbase to properly serve EU and then Southeast Asia (Japan is in East Asia and India South Asia) but the small tiger economies of Southeast Asia have for many years now been hungry for uptake of Bitcoin, and while we still have a lot of viable options (even strong localbitcoin presence), I do see that running on borrowed time with regulators getting edgier by the day.