TL;DR We have been rolling out updates to our Japanese product, to elevate the experience of our local community. Our updates include: the integration of bank transfers from GMO Aozora Net Bank and au Jibun Bank, increasing the number of assets listed, allowing foreigners in Japan to verify their identity on Coinbase using their residence card, and Japanese nationals to use My Number Card.
For a few months, we have been rolling out updates to our products in Japan. We know Japan is a crypto-forward market, with a history of embracing and propelling innovation, and we want to be an integral part of the country’s journey into Web3 technologies. To meet this goal, we will continue to elevate our local product experience.
For some time now we have been establishing partnerships with top tier institutions like MUFG, we also integrated GMO Aozora Net Bank and Au Jibun Bank so customers with these bank accounts can use Quick Deposit, which enables almost real-time transactions, 24/7 (except for system maintenance times), and with zero fees. Additionally, through the partnership with GMO Aozora Net Bank, we enabled customers of over 1,000 banks in Japan to deposit money into Coinbase.
Additionally, we have tripled the number of listed assets (we currently list BAT, BCH, BTC, DOT, ETC, ETH, ENJ, LINK, LTC, MKR, OMG, SAND, SOL and XLM in Japan). as thoroughly and quickly as possible, and list everything that we can safely and legally, considering local policy and regulatory requirements. We intend to continue doubling down on growing the number of assets available in Japan while staying true to our compliance and security tenets.
Finally, we have made it possible for foreigners in Japan to onboard using their residence card to perform identity verification. For Japanese customers, My Number Card was made available in addition to driver's license as a method of identity verification. We made these updates to stay true to our mission of providing ease of use in our products, as well as our vision to increase economic freedom for everyone; opening doors so even more people in Japan can access Web3.
This is only the beginning of our next chapter in Japan. In the near and far future we will continue stacking updates and elevating the experience of our local community. If you haven’t already, make sure to sign up now and follow us on to keep up with our evolution.
Nao & Nana
About Nana Murugesan
Nana Murugesan is the Vice President of International and Business Development at Coinbase where he leads the company’s international operations and global partnerships. Previously, he was the Managing Director of International Markets at Snap Inc. where he led Snapchat’s international expansion and strategic partnerships.
Earlier in his career, Nana was the Vice President and General Manager at Samsung, where he served in a number of strategy, partnerships, and operations roles to launch and grow their Galaxy smartphone and services business, notably Samsung Pay. He also held product roles at Cisco and strategy consulting roles at BCG.
Nana received his BE in Engineering from the University of Madras, MS in Engineering from the University of Wisconsin-Madison and MBA from The Wharton School at the University of Pennsylvania.