Crypto Exchange Gate.io Aiming to ‘Enter Japanese Crypto Market’ – CEO
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
The crypto exchange operator Gate.io says that it wants to enter the Japanese market, with its CEO planning a “full-scale advance.”
Per the Japanese media outlet CoinPost, the Gate.io CEO and founder Lin Han made the comments at the WebX conference on August 28.
The outlet quoted Han as “revealing” that the company is “making full-scale advances into the Japanese market.”
The CEO said that the firm was “going through the license application procedures” as it readies a launch.
East Asian nations like Japan and South Korea have famously tight regulatory processes that have previously thwarted the likes of Binance from launching exchanges.
Coinbase appeared to have bucked the trend when it launched Japanese operations. However, the American firm shuttered its Tokyo-based exchange in January 2023.
Kraken, another global exchange that tried to establish a Japanese presence, also left the market in 2022.
“There are few countries with clearer regulations and stronger user protection measures than Japan.”
Thank you @aba_summit for the invitation to this year's incredible summit. A real pleasure to participate with my two cents. Some thoughts to summarize my contribution: The amazing progress of blockchain industry is turning it into a more mature and stable space, ideal for more… pic.twitter.com/KAr1PzHpGn
One of the few crypto exchanges that did manage to gain a foothold in Japan was FTX.
However, this venture ended in acrimony, with FTX Japan customers left unable to withdraw their funds in the wake of the FTX collapse.
Han appeared keen to
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