Bitbank establishes a new venture to connect international blockchain projects with Japan’s growing crypto industry.
New Investment Focus
Japanese crypto exchange Bitbank has announced a global expansion plan, launching a subsidiary focused on investing in overseas blockchain firms. This new business arm, Bitbank Ventures, aims to foster partnerships between Japanese and foreign blockchain businesses, allowing them to explore opportunities and establish a presence in Japan.
Bridging Japanese and Overseas Blockchain Projects
Bitbank Ventures will serve as a gateway to Japan’s crypto industry, helping blockchain projects at various stages, from pre-seed to Series A, according to Japanese media outlet CoinPost. Bitbank stated, “We welcome blockchain-related projects, ranging from pre-seed to Series A, from both Japan and overseas.”
A Growing Trend Among Japanese Crypto Firms
Several Japanese crypto exchanges, including Bitbank’s rival DMM and bitFlyer, are looking beyond local markets. DMM has its DMM Coin and DMM Crypto ventures, while bitFlyer is focusing on European and other foreign markets to widen its footprint.
Supporting Overseas Blockchain Startups in Japan
Bitbank Ventures will provide strategic assistance to blockchain startups and crypto projects entering the Japanese market. The company stated, “Bitbank has been operating as a cryptoasset business in Japan since 2014 and is a leader in the business and regulatory trends related to cryptoassets in Japan.” The firm plans to leverage its strong connections with Japanese businesses, media, government bodies, and accelerators to support these projects.
Expansion into New Technologies
Bitbank Ventures plans to invest in both layer 1 and layer 2 blockchain infrastructures and expand into emerging sectors like AI, gaming, and Web3 projects. This strategic shift aims to accelerate investments and enhance Bitbank’s venture capital functions, according to Jun Kuwahara, Bitbank’s head of business development.
Bitbank’s Previous Investments and Future Goals
Over the past three years, Bitbank has backed initiatives such as Next Web Capital, an accelerator focused on Web 3.0, and the crypto project Oasys. Kuwahara added that Bitbank’s venture capital arm will enable faster investment decisions, increasing their reach and focus on international collaborations.
A Government-Supported Move Toward Global Expansion
The Japanese government appears to support crypto firms exploring foreign markets, encouraging companies like Bitbank to build international partnerships. Earlier this year, bitFlyer’s PR Manager, Keisuke Igarashi, shared bitFlyer’s global vision, stating, “Together with bitFlyer USA and bitFlyer Europe, we are developing our cryptoasset exchange business globally.”
Strengthening Japan’s Role in the Global Crypto Industry
With Bitbank Ventures, Japan’s crypto industry is positioned to expand its influence and develop new opportunities worldwide. Bitbank’s focus on nurturing blockchain projects globally reflects Japan’s ambition to grow its crypto sector and become a hub for blockchain innovation.
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