Bitcoin exchange operator and service provider Coinbase just announced that they have formed a strategic partnership with Bank of Tokyo-Mitsubishi UFJ (BTMU) to support Coinbase’s long-term international expansion efforts. BTMU is the largest bank in Japan and a subsidiary of the Mitsubishi UFJ Financial Group (MUFG). Additionally, BTMU, Mitsubishi UFJ Capital (MUCAP), and Sozo Ventures have jointly made a strategic investment in Coinbase.
The three firms noted above have made a total investment of $10.5 million in Coinbase, bringing the company’s lifetime funding achievements to around $116 million.
San Francisco based Coinbase, one of the well established Bitcoin providers aims to create an open financial system for the world by building the bridge between financial institutions and the new world of digital finance.
While Coinbase does not yet offer digital currency exchange services in Japan, the company says it is committed to continued international expansion and look forward to working with BTMU to support this focus in key markets in Asia and globally.
Last month, Coinbase rebranded its Bitcoin trading platform from Coinbase Exchange to GDAX, the acronym standing for Global Digital Asset Exchange.