San Francisco-based crypto startup Coinbase announced the appointment of Nao Kitazawa as Coinbase Japan’s Chief Executive, as part of its expansion rollout to the Japanese market.
Coinbase initially announced in 2016 that it would be expanding its services to Japan, after a group including Bank of Tokyo, Mitsubishi UFJ, and Mitsubishi UFJ Capital invested $10.5 million.
“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 startup said, in reference to Japan’s chief financial regulator.
Kitazawa previously worked as the COO of Money Design. He also worked as an investment banker for Morgan Stanley Japan.
Coinbase’s announcement to open an office in Japan is not surprising news at all, considering the growing exchange ecosystem that is taking shape in Japan after it has started to formally regulate cryptocurrencies as a payment method.
“We look forward to sharing more about our plans for Japan soon,” Coinbase said.