Mitsubishi UFJ Financial to Invest in Bitcoin Venture Coinbase

TOKYO—Japan’s biggest lender, Mitsubishi UFJ Financial Group Inc., is stepping into the bitcoin world by investing in Coinbase, a service that allows users to store the virtual currency and make payments with it.

To ramp up operations in Asia, Coinbase is set to raise about $10.5 million from investors on Friday including MUFG’s core banking unit and an MUFG venture-capital fund, bank officials said.

The MUFG investment is a…

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