Bitbank Ventures launches support for blockchain, AI, and crypto startups, fueling Japan’s Crypto industry with global focus.
The company will work on blockchain and cryptocurrency-related projects. Bitbank Ventures will concentrate on emerging blockchain projects in Japan and abroad, per Bitbank’s news statement.
Bitbank anticipates that the investment subsidiary will act as a link to advance and grow the Japanese cryptocurrency market.
Bitbank Ventures was established to oversee projects involving emerging technologies, including blockchain, Artificial Intelligence, and digital assets.
Given the state of the industry, Bitbank believes that projects that combine AI and cryptocurrencies have been drawing in investors.
As a result, it intends to fortify its investment endeavor by keeping abreast of emerging business and technological trends.Â
“We believe that innovative solutions backed by crypto assets and blockchain technology will enable a more open value transfer over the Internet and in society,” the company stated in its press release.
Bitbank Ventures’ main office will be based in Shinagawa, Tokyo, Japan, and Noriyuki Hirosue will serve as its CEO.
Bitbank Ventures will eventually concentrate on new initiatives that could expand the crypto asset sector in Japan and break into international markets.
In addition, it intends to keep an eye on projects and partnerships with other internal companies, offer insight and direction on the Japanese market, and present both local and foreign partners that can support the cryptocurrency initiatives.
The establishment of Bitbank Ventures was discussed by Jun Kuwahara, Head of Business Development at Bitbank, in a recent X article.
According to him, Bitbank has invested in several cryptocurrency initiatives recently. Bitbank Ventures will go one step further by prioritizing cryptocurrency startups and other associated companies. Kuwahara said:
We believe that investment is important to further strengthen our contact points with the latest businesses and technologies related to cryptocurrencies and to create business opportunities with a sense of business direction in the medium term.”
Japan’s Financial Services Agency said on September 30 that it would be reviewing its cryptocurrency laws, which might result in reduced tax rates and more domestic token investments.
