Skip to content
Active Currencies: 17,422
Market Cap: $2.240T
Bitcoin Dominance: 56.00%
24h Market Cap Change: $-1.95

Gate Group Announces Acquisition of Coin Master Co., Ltd., Officially Entering the Japanese Market
Written by Written by AMBCrypto Team
Reviewed by Reviewed by AMBCrypto Team
Updated December 24, 2024
Gate
Press Release

According to an announcement by a cryptocurrency exchange platform, Gate.io, and the Financial Services Agency of Japan (FSA) today, Gate Group has successfully acquired all issued shares of Coin Master Co., Ltd., a Japanese cryptocurrency service provider. The acquisition was carried out through Gate Japan K.K.(Gate Japan) 「CEO: Lin Han」, 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 Japanese market.

Gate.io announced on 22 July 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 the 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. is expected to offer more innovative products and high-quality services to local users in the future, while leveraging Gate Group’s technological advantages and resources in the global market to enhance the digital asset trading experience for Japanese users.

Disclaimer: This is a paid post and should not be treated as news/advice.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

AMBCrypto Team

Contributor

AMBCrypto Team is constituted by a vastly experienced team of professional journalists and analysts. Each one of us is driven to deliver the most important, the most insightful stories and analyses of the day. Whether you're a casual enthusiast or a trader or an investor, we make sure you get the most objective, accurate, and time-sensitive story at your fingertips.

Related Articles

AMBCrypto
Facebook X Instagram Youtube Linkedin

AMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to our readers. We have quickly grown into the digital news source for an emerging generation of cryptocurrency enthusiasts, reaching more than a million readers on a monthly basis, across the globe.