PANAMA CITY, Dec. 24, 2024 (GLOBE NEWSWIRE) – Gate.io, in collaboration with Japan’s Financial Services Agency (FSA), has announced that Gate Group has successfully acquired all issued shares of Coin Master Co., Ltd., a leading Japanese cryptocurrency service provider. The acquisition was executed through Gate Japan K.K. (Gate Japan), a Singapore-based subsidiary of Gate Group, led by CEO Lin Han. As part of this transition, Coin Master Co., Ltd. will now officially be renamed “Gate Japan K.K.,” marking a pivotal move in Gate Group’s expansion strategy into the Japanese market.
This acquisition follows Gate.io’s announcement on July 22, 2024, that it would stop accepting new accounts from users in Japan and gradually phase out its global services for Japanese residents. This decision aligns with Gate.io’s commitment to comply with local laws and regulations in Japan. With the acquisition of Coin Master Co., Ltd., Gate Group aims to create a fully localized digital asset trading platform that adheres to Japan’s regulatory framework, ensuring a secure and compliant service for Japanese users.
As Japan refines its regulatory approach to the digital asset industry, Gate Group remains dedicated to meeting the country’s requirements while fostering transparency and compliance in its platform operations. The acquisition of Coin Master Co., Ltd. reinforces Gate Group’s long-term commitment to the Japanese market and to supporting the global growth of the digital asset sector. Gate Japan K.K. will leverage Gate Group’s technological expertise and resources to provide innovative solutions and high-quality services, enhancing the trading experience for local users while continuing to drive forward the healthy development of the digital asset industry globally.
This strategic move underscores Gate Group’s efforts to ensure that its services are fully integrated with local regulations while offering users in Japan a seamless and compliant digital trading platform. With Gate Japan now in place, the company is well-positioned to expand its offerings and contribute significantly to Japan’s dynamic digital asset ecosystem.