Gate.io Acquires Coin Master Co., Ltd. to Expand Its Presence in Japan

Gate.io and the Financial Services Agency of Japan (FSA) announced that Gate Group has acquired all shares of Coin Master Co., Ltd., a Japanese cryptocurrency

Cryptocurrency exchange Gate.io has fully acquired Japanese crypto service provider Coin Master Co., Ltd. The acquisition was carried out through Gate Japan K.K., a Singaporean entity within the Gate Group. Following the acquisition, Coin Master Co., Ltd. will be rebranded as Gate Japan K.K., effective today.

The move comes after Gate.io announced on July 22, 2024, that it would no longer open new accounts for Japanese users and would gradually scale down its global services in the country. This decision was made to comply with local laws and regulations.

"This acquisition marks a significant step in our efforts to provide a localized trading platform for Japanese users, adhering to the country's regulatory framework for digital assets," said a representative of Gate Japan K.K. "We aim to offer services that prioritize transparency and regulatory compliance, catering to the evolving needs of Japanese crypto enthusiasts."

The acquisition is part of Gate Group's broader strategy to expand its presence in Japan, a key market in the global digital asset industry. According to Gate Japan K.K., it will continue to introduce innovative products and services for local users, leveraging the global resources and technology of Gate Group to enhance the trading experience.

In other news, Gate.io has acquired all shares of Coin Master Co., Ltd., a Japanese cryptocurrency service provider. The acquisition was executed through Gate Japan K.K., a Singaporean entity within the Gate Group. As of today, Coin Master Co., Ltd. will be rebranded as Gate Japan K.K.

This acquisition follows Gate.io's announcement on July 22, 2024, regarding the closure of new account openings for Japanese users and the gradual scaling down of its global services in Japan. The move is part of Gate.io's efforts to comply with local laws and regulations.

"This acquisition marks a significant step in our endeavors to provide a localized trading platform for Japanese users, aligning with the country's regulatory framework for digital assets," stated a representative of Gate Japan K.K. "We aim to deliver services that prioritize transparency and regulatory compliance, catering to the evolving needs of Japanese crypto enthusiasts."

The move is part of Gate Group's broader strategy to expand its presence in Japan, a key market in the global digital asset industry. According to Gate Japan K.K, it aims to deliver innovative products and services to local users, leveraging the global resources and technology of Gate Group to enhance the trading experience.

📢📢JUST IN: Crypto Exchange @gate_io Inks Deal to Buy 100% Shares of Japan's Coin Masterhttps://t.co/WnKcx1h9by

Gate.io Partners with Inter Milan for Sleeve Sponsorship

Meanwhile, Gate.io has announced a sponsorship deal with FC Internazionale Milano (Inter Milan), one of Italy's top football clubs. While financial details are undisclosed, the exchange's branding will appear on the sleeves of the club’s men’s and women’s teams, as well as the U20 team, as reported by Finance Magnates.

The deal also includes the display of Gate.io’s brand on the club’s infrastructure, with the logo debuting on jerseys for the next match. The partnership aims to increase Gate.io's visibility and enhance fan experiences through exclusive content, joint marketing, and co-branded merchandise.