On August 28, Lin Han, the founder and CEO of Gate.io, announced the cryptocurrency exchange’s plan to enter the Japanese market. The announcement was made during a talk session at WebX2024. It is a major Web3 conference held at The Prince Park Tower Tokyo. The event is hosted by CoinPost Co., Ltd., which is Japan’s largest Web3 media, and it will be held on the 28th and 29th of August. Han’s presence at the conference was a defining moment of the exchange’s globalization plans.
Gate.io Seeks Licenses for Japan, Emphasizes Strict Compliance
Han said that Gate.io is still working on obtaining the licenses that it needs to operate in Japan. He also commended Japan for having clear rules and the ability to protect users, which are essential for the operations of the 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 used data from Gate.io’s proprietary research noting that Japan’s Financial Services Agency closely monitors cryptocurrency exchanges. The fact that this regulation offers good user protection, Han pointed out that most international tokens and exchanges are not regulated. That Gate.io aims to follow the Japanese regulations to the letter shows its efforts to ensure that trading is safe and regulated.
Founded in 2013, Gate.io now provides trading for more than 2,500 digital assets besides other services like Perpetual Futures, NFT Market, and Debit Cards. However, in his recent interview, Han stated that there are plans underway to launch a compliant exchange in Japan and further emphasized Gate.io’s adherence to Japanese regulations
