Japanese crypto exchange Bitbank has formed its own global investment subsidiary, Bitbank Ventures. The firm will take on projects related to crypto and blockchain technology.
According to Bitbank’s press release, Bitbank Ventures will focus on new and rising blockchain projects, both in Japan and overseas. Bitbank hopes that the investment subsidiary will serve as the bridge to develop and drive the Japanese crypto industry forward.
Bitbank Ventures was formed on the basis of managing projects related to new technologies such as digital assets, blockchain, and artificial intelligence. Looking at the current market conditions, Bitbank views projects that blend cryptocurrency and AI have been attracting investors, therefore it plans to strengthen its investment venture by staying up to date on the latest technology and business trends.
“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 with Noriyuki Hirosue serving as its CEO.
In the long run, Bitbank Ventures will focus on emerging projects that have the potential to penetrate the global market and elevate the crypto asset business in Japan. It also plans to monitor projects and collaborations with other internal businesses, provide knowledge and guidance on the Japanese market and introduce domestic and overseas partners that can contribute to the crypto projects.
In a recent X post, Head of Business Development at Bitbank Jun Kuwahara commented on the launch of Bitbank Ventures. He stated that over the past few years, Bitbank has invested in a number of crypto projects. Bitbank Ventures will take it one step further by prioritizing crypto startups and other related businesses.
“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.” said Kuwahara.
On Sept. 30, Japan’s Financial Services Agency announced that it plans to review its cryptocurrency regulations which could lead to lower tax rates and domestic investments in tokens.
