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Bank of Tokyo-Mitsubishi, unit invest in US-based bitcoin exchange

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Bank of Tokyo-Mitsubishi, unit invest in US-based bitcoin exchange

and its unit Mitsubishi UFJ Capital have invested in U.S.-based bitcoinexchange Coinbase.

Coinbasesaid July 7 that it entered into a strategic partnership with Bankof Tokyo-Mitsubishi to support the bitcoin exchange's international expansion.

TheJapanese companies, together with Sozo Ventures, also agreed to invest inCoinbase. The investment from the three companies amounts to US$10.5 million,Reuters reported the same day.

Thebitcoin exchange operates in 32 countries, but does not yet have operations inJapan. It operates an exchange in Singapore.

SamRosenblum, international expansion and banking lead at Coinbase, told Reutersthat Japan will be an important market for the company, but added that there isno timetable to launch operations in Japan.

Bankof Tokyo-Mitsubishi is a unit of Mitsubishi UFJ Financial Group Inc.