Nao Kitazawa will serve as the new chief executive officer for Coinbase’s new Japanese subsidiary, reported Coindesk on June 4.
In 2016, Coinbase announced that it would open its service in Japan after a $10.5 million investment from a group, which included the Bank of Tokyo and Mitsubishi UFJ Capital.
Kitazama is the former COO of Money Design, an automated investment manager and advisor, and he also worked for Morgan Stanley Japan in an investment role, according to Crunchbase.
“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 said.
The move of Coinbase to open its services in Japan is not really surprising because since the country’s government decided to formally regulate cryptocurrencies as a payment method, the cryptocurrency exchange ecosystem has evolved considerably.
“We look forward to sharing more about our plans for Japan soon,” further expressed Coinbase.