Japan’s Bitbank Launches Global Arm for Crypto, Blockchain Projects

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2024/11/12/japans-bitbank-launches-global-venture-arm-for-crypto-projects/ on 2024-11-12. Article ID: SD16861T5cc679c4. Author: Vanessa. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2024/11/12/japans-bitbank-launches-global-venture-arm-for-crypto-projects/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

Japanese crypto exchange Bitbank has launched a global investment subsidiary, Bitbank Ventures, to fund projects in the cryptocurrency and blockchain sectors, both domestically and internationally.

The new firm aims to bridge innovative technologies and investment opportunities to strengthen Japan’s crypto industry and drivе global adoption of digital assets.

Based in Tokyo’s Shinagawa district, Bitbank Ventures will focus on emerging blockchain projects and new technologies such as artificial intelligence (AI) and digital assets. Bitbank sees significant investor interest in projects combining crypto and AI, especially under current market conditions, and plans to keep pace with these advancements. CEO Noriyuki Hirosue stated that Bitbank Ventures seeks to develop a more open internet value-transfer system through investments in crypto-backed projects.

Jun Kuwahara, Bitbank’s Head of Business Development, commented on the strategic move, emphasizing the importance of staying connected to the latest crypto technologies to create mid-term business opportunities. He noted that while Bitbank has previously invested in various crypto projects, the launch of Bitbank Ventures marks a new chapter focused on cultivating crypto startups and fostering global partnerships.

The timing of this launch aligns with Japan’s shifting regulatory landscape. In recent weeks, Japan’s Financial Services Agency (FSA) has announced its intent to review cryptocurrency regulations, potentially leading to lower tax rates and increased domestic investment in tokens.

The FSA is also reportedly working on a framework to streamline asset management for gaming companies using cryptoassets, as existing regulations have hindered blockchain adoption in Japan’s gaming sector. These planned reforms could remove significant obstacles, encouraging broader integration of crypto and blockchain technologies in Japanese industries.

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