As a seasoned researcher who has closely followed the cryptocurrency market for years, I find Lin Han’s decision to expand Gate.io into the Japanese market not only strategic but also prudent. Japan, with its strict regulations and user protection mechanisms, is an ideal environment for a secure and compliant exchange like Gate.io.
On the 28th of August, Lin Han, the head honcho of Gate.io, disclosed their intentions to dive into the Japanese cryptocurrency market. This revelation took place during a discussion at the WebX2024 conference, which was hosted by CoinPost Co., Ltd., Japan’s leading Web3 media company. Held at The Prince Park Tower Tokyo, this significant Web3 gathering is slated for the 28th and 29th of August. Lin Han’s participation in the event marked a crucial step forward in Gate.io’s global expansion strategy.
Gate.io Seeks Licenses for Japan, Emphasizes Strict Compliance
Han mentioned that Gate.io is continuing its efforts to secure the necessary licenses for operation within Japan. Moreover, he praised Japan’s strict regulations and capacity to safeguard users, which are vital components for the smooth functioning of an exchange.
Han also emphasized that security is the company’s paramount concern, especially for Gate.io. To avoid such problems as FTX encountered, the exchange will operate following strict regulatory requirements, as well as apply separate management and cold storage for assets, strictly following the rules.
The CEO also discussed various issues that relate to the firm venturing into the Japanese market. He cited the earlier pull out of other significant exchanges including Coinbase and Kraken from Japan. In this interview, Han highlighted that Gate.io stands for diversification and, at the same time, an ultimate focus on security. This strategy is meant to entice Japanese users and distinguish Gate.io from other similar platforms.
Han utilized data from Gate.io’s internal research, highlighting that Japan’s Financial Services Agency keeps a close eye on cryptocurrency exchanges. He emphasized that this regulation provides strong user protection, and since many international tokens and exchanges lack such regulation, Gate.io’s commitment to strictly adhere to Japanese regulations underscores its dedication to maintaining secure and regulated trading activities.
Established in 2013, Gate.io currently offers trading for over 2,500 digital assets, along with additional services such as Perpetual Futures, an NFT Market, and Debit Cards. In a recent interview, Han revealed that the company is working on launching a compliant exchange in Japan, reiterating Gate.io’s commitment to adhering to Japanese regulatory standards.
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2024-08-29 12:11