Japanese cryptocurrency exchange Bitbank has announced plans to introduce a new business unit to drive innovation in the crypto and blockchain space: Bitbank Ventures. The new global venture capital firm will invest in and support original projects in digital assets, blockchain, and artificial intelligence to support the international growth of the Japanese crypto industry.
Bitbank Ventures’ press release states it will invest in promising blockchain and cryptocurrency initiatives in Japan and abroad. The firm sees itself as a bridge between Japan’s burgeoning crypto ecosystem and the world. Bitbank stated, “We believe innovative crypto assets and blockchain technology will help pave the way for more open value transfer in society over the Internet.”
Bitbank Ventures to Focus on Advanced Tech Integration and Global Startup Support
In the current market trend, with massive interest from investors, Bitbank Ventures will pay much attention to cryptocurrency combined with advanced technology, such as artificial intelligence. Bitbank Ventures always watches technological development and the business environment to remain a leader. Noriyuki Hirosue will be the firm’s CEO, whose headquarters will be based in Shinagawa, Tokyo.
The long-term goal is to support startups with the potential for global growth and provide the expertise and support to take Japan to the top in the crypto sphere and blockchain. It also intends to build bridges between the crypto project and the foreign and domestic Bitbank departments beyond the other investment subsidiaries. At the same time, the knowledge of the Japanese market will be spread among its international partners.
Speaking about the launch, the Head of Business Development at Bitbank, Jun Kuwahara, said, ‘Bitbank Ventures is deeper than just our support for innovation within the industry.’ Over the past few years, he said the exchange has invested in various crypto projects, and the new venture will let Bitbank accelerate those efforts.
“Investment, of course, goes a long way toward further securing our contact points with the latest businesses and technologies regarding cryptocurrencies as well as opening up business opportunities with a certain business orientation in the medium term,” Kuwahara added in a recent post on X (formerly Twitter).
Crypto Industry in New Era: Japanese Companies Revive Amid the Pandemic
Recent regulatory shifts in Japan are all about aligning with the launch of Bitbank Ventures. Japan’s Financial Services Agency said on Sept.30 that it will review its cryptocurrency regulations, possibly slashing tax rates and piquing domestic investment in crypto assets. The regulatory support shows that the Japanese government is keen to develop an enabling environment for this crypto industry, and Bitbank is supported in expanding more.
With Bitbank Ventures already underway on their mission, the project aims to help drive this Japanese crypto industry forward, the firm at the forefront of a new era of building a dynamic and connected blockchain ecosystem.
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