Gate.io Parent Company Gate Group Acquires Japanese Crypto Service Provider Coin Master

Gate Group, the operator of the cryptocurrency exchange platform Gate.io, has officially announced its acquisition of all issued shares in Coin Master, a Japanese cryptocurrency service provider.

Cryptocurrency exchange platform Gate.io’s operator, Gate Group, has announced the acquisition of all issued shares in Coin Master, a Japanese cryptocurrency service provider. The financial terms of the deal were not disclosed.

The acquisition was carried out through Gate Japan K.K., a Singapore-based subsidiary of Gate Group. After the transaction, Coin Master will be renamed Gate Japan K.K., marking Gate Group’s official entry into the Japanese market.

This move comes after Gate.io announced on 22 July 2024 that it would stop opening new accounts for users in Japan and phase out its global services for Japanese customers. The decision was made to align the platform with Japan’s regulatory requirements.

With the acquisition of Coin Master, Gate Group will be able to provide a digital asset trading platform that follows local regulations, showing its commitment to meeting the needs of Japanese users and expanding its presence in the region.

Japan, a major world economy, is still making its regulatory framework for digital assets better. In this changing environment, Gate Group has said again that it will follow local laws, making sure its operations are clear and meet regulatory standards.

The group also said it wants to help the digital asset industry grow in a sustainable way around the world while following the rules in each region.

The acquisition is expected to help Gate Group offer new products and services in the Japanese market. By using its technological skills and global resources, Gate Japan K.K. will try to make trading better for people in the area. This move fits with Gate Group’s plan to expand its localized operations and service offerings in key markets.