Gate.io and Japan’s Financial Services Agency (FSA) have announced that Gate Group has acquired all shares of Coin Master Co., Ltd., a Japanese cryptocurrency service provider. The acquisition was carried out through Gate Japan KK, a Singapore-based entity within the Gate Group. As of today (Tuesday), Coin Master Co., Ltd. will officially be renamed Gate Japan KK.
This acquisition follows Gate.io’s decision, announced on July 22, 2024, to stop opening new accounts for Japanese users and gradually reduce its global services in Japan. This move is part of Gate.io’s efforts to comply with local laws and regulations.
Gate Group’s Expansion with Acquisition
Japan’s regulatory framework for digital assets is evolving, and Gate Group aims to align with these changes. The acquisition of Coin Master Co., Ltd. is seen as a significant step towards establishing a localized trading platform for Japanese users. Gate Japan KK will offer services that comply with Japan’s regulations, emphasizing transparency and regulatory adherence.
This move is part of Gate Group’s broader strategy to strengthen its presence in Japan, a crucial market in the global digital asset industry. According to Gate Japan KK, their goal is to provide innovative products and services for local users, leveraging Gate Group’s global resources and technology to enhance the trading experience for the Japanese market.
Gate.io Partners with Inter Milan to Sponsor Sleeve
Gate.io has announced a sponsorship deal with FC Internazionale Milano (Inter Milan), one of Italy’s top football clubs. While the financial terms of the agreement have not been disclosed, the cryptocurrency exchange’s brand will be featured on the sleeves of both the men’s and women’s teams, as well as the U20 team, as reported by Finance Magnates.
The deal also includes prominent placement of the Gate.io brand across the club’s infrastructure, with the logo appearing on matchday shirts for the next game. This partnership aims to boost Gate.io’s visibility and enhance fan engagement through exclusive content, joint marketing efforts, and co-branded merchandise.