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 service provider. The acquisition was executed through Gate Japan K.K., a Singaporean entity within the Gate Group. As of today (Tuesday), Coin Master Co., Ltd. will be rebranded as Gate Japan K.K.
This acquisition follows Gate.io's decision, announced on July 22, 2024, to stop opening new accounts for Japanese users and gradually scale down its global services in Japan. This move is part of Gate.io’s efforts to comply with local laws and regulations.
Gate Group Expands with Acquisition
Japan’s regulatory framework for digital assets is growing, and Gate Group aims to align with these changes. The acquisition of Coin Master Co., Ltd. is seen as a step towards providing a localized trading platform for Japanese users. Gate Japan K.K will offer services that comply with Japanese regulations, with a focus on transparency and regulatory compliance.
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
— UnoCrypto (@unocrypto_com) December 23, 2024Gate.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.
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This article was written by Tareq Sikder at www.financemagnates.com.
