Gate Group Enters Japanese Market With Acquisition Of Coin Master Co.
In Brief
Provider behind the cryptocurrency exchange Gate.io, Gate Group announced the acquisition of all issued shares of Coin Master Co, a Japanese cryptocurrency service provider. The acquisition was carried out through Gate Japan K.K., a Singapore-based entity that is part of Gate Group. As a result, Coin Master Co. will now be renamed “Gate Japan K.K.” as part of Gate Group’s expansion into the Japanese market.
On July 22, 2024, Gate.io revealed it would stop opening new accounts for Japanese users and gradually phase out its global services in Japan. This strategic decision is in line with Gate.io’s efforts to comply with Japan’s local laws and regulations. The acquisition of Coin Master Co. is aimed at establishing a localized digital asset trading platform that adheres to these regulations, reinforcing Gate Group‘s commitment to serving the specific needs of Japanese users and further growing its presence in Japan.
Gate Group To Meet Japan’s Regulatory Requirements, Strengthening Local Operations And Enhancing Service To Japanese Market
As the digital asset market continues to expand, Japan, one of the world’s leading economies, is gradually refining its regulatory framework for the industry. Gate Group is dedicated to meeting Japan’s regulatory requirements and ensuring both transparency and compliance in its platform operations. The company aims to contribute to the healthy development of the global digital asset industry while adhering to local laws and regulations.
With its global business continuing to grow, this acquisition is expected to strengthen Gate Group’s localized operations and enhance its service to the Japanese market. Through this acquisition, Gate Japan Co. is poised to offer more innovative products and high-quality services to local users while leveraging Gate Group’s technological expertise and global resources to improve the digital asset trading experience for Japanese users.
Earlier this year, the exchange revealed its ongoing efforts and plans to enter the Japanese market. “We are committed to setting a gold standard for security as we enter Japan, aligning with our broader strategy to promote a secure and regulated cryptocurrency environment worldwide,” commented Dr. Han Lin, founder and chief executive officer of Gate Group.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
