The recognition of Bitcoin in Japan is good news for the global cryptocurrency ecosystem as it may drive demand and price.
Japanese banking giants are looking to invest in financial technology startups, as the government is promoting innovation in the competitive fintech market.
The project called ‘Blockchain Angel Fund’ aims at supporting blockchain companies in Japan.
Japanese venture capital firms Dentsu Digital Holdings, Mitsubishi UFJ Capital Company Limited and others keep investing: bitFlyer raises $4m in this round.
Anycoin Direct gets €500K in funding, while blockchain technology platform Colu and Japan-based BitFlyer raise $2.5M and $1.1M in funding, respectively.