Gate Group, the parent company of cryptocurrency exchange Gate.io, has acquired Japanese cryptocurrency service provider Coin Master Co., Ltd. This move aims to establish a localized platform compliant with Japanese regulations, serving Japanese users better.
Gate.io and the Financial Services Agency of Japan (FSA) announced today that Gate Group has successfully acquired all issued shares of Coin Master Co., Ltd., a Japan ese cryptocurrency service provider. The acquisition was carried out through Gate Japan , a Singaporean entity, which is a part of Gate Group. As of today, Coin Master Co., Ltd. will officially be renamed 'Gate Japan K.K.' ('Gate Japan '), marking a significant step in Gate Group's expansion into the Japan ese market.Gate.
io previously announced on July 22, 2024, that it would cease opening new accounts for users residing in Japan and gradually phase out its global services for Japanese users. This strategic move aligns with Gate.io's commitments to comply with local laws and regulations in Japan. In this context, Gate Group has acquired Coin Master Co., Ltd. with the aim of providing a localized digital asset trading platform that complies with local regulations, thereby reinforcing Gate Group’s commitment to meeting the specific needs of Japanese users and further expanding its business operations in Japan. As the digital asset market continues to thrive, Japan, as one of the world's leading economies, is gradually refining its regulatory framework for the industry. Gate Group is committed to adhering to regulatory requirements of Japan, ensuring transparency and regulatory compliance in its platform operations. Gate Group strives to contribute to the healthy development of the global digital asset industry while complying with local laws and regulations. Gate Group's global business continues to grow, and this acquisition is expected to strengthen localized operations and better serve the Japanese market. With this acquisition, Gate Japan Co., Ltd
Cryptocurrency Acquisition Japan Gate.Io Financial Services
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