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Gate Group Announces Acquisition of Coin Master Co., Ltd., Officially Entering the Japanese Market
In a significant move to solidify its position in the global digital asset market, Gate Group has announced that it has successfully acquired all issued shares of Coin Master Co., Ltd., a prominent Japanese cryptocurrency service provider. This strategic acquisition marks a pivotal moment for Gate Group as it officially enters the Japanese market.
As part of this deal, Coin Master Co., Ltd. will be renamed “Gate Japan K.K.” (“Gate Japan”), signaling the beginning of a new chapter in the company’s growth and expansion. The acquisition was carried out through Gate Japan K.K., a Singaporean entity that is a part of Gate Group.
The move aligns with Gate.io’s commitment to comply with local laws and regulations, as it previously announced on July 22, 2024, that it would cease opening new accounts for users residing in Japan. The acquisition serves as a key step in reinforcing Gate Group’s dedication to meeting the specific needs of Japanese users and further expanding its business operations in the region.
Japan has been working to refine its regulatory framework for the digital asset industry, and Gate Group is committed to adhering to these requirements. This commitment will ensure transparency and regulatory compliance throughout its platform operations.
The company’s global business continues to thrive, with this acquisition poised to strengthen localized operations and better serve the Japanese market. With this development, Gate Japan K.K. is expected to provide more innovative products and high-quality services to local users in the future, while leveraging Gate Group’s technological advantages and resources from the global market to enhance the digital asset trading experience for Japanese users.
This announcement marks a significant milestone for Gate Group as it cements its position within the Japanese market and underscores its commitment to regulatory compliance.
Source: blockonomi.com
