Bitbank Unveils Worldwide Investment Subsidiary, Aims To Back New Blockchain Projects

Leading Japanese crypto exchange, Bitbank, announced the launch of its new global investment branch in a 8 November 2024 press release.

“Bitbank Ventures LLC,” the new wholly owned subsidiary of Bitbank will focus on identifying and investing in projects that harness crypto assets and blockchain technology.

A new company, Bitbank Ventures LLC, has just been established ！#Bitbank　#BitbankVentures

Details here：https://t.co/bahRksUTbi

— Bitbank Ventures (@BitbankVentures) November 8, 2024

The company also highlighted that such solutions, backed by crypto assets and blockchain technology, will enable a more open value transfer over the internet and in society.

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New Subsidiary Will Identify, Support Blockchain Projects

Bitbank’s new subsidiary will function as a platform for identifying and supporting pioneering blockchain projects. This initiative further seeks to promote real-world solutions by leveraging blockchain’s transparency and security.

Moreover, the company will also foster collaborations within Japan’s crypto sector and bridge connections with global markets, enhancing Japan’s influence in the crypto industry.

The new subsidiary is set to “serve as a bridge to develop and deepen the crypto asset businesses in Japan,” and advance an open digital economy.

Meanwhile, Bitbank Ventures is also prioritizing emerging technologies, particularly Large-Scale Language Models (LLMs) in the AI sector, to explore new intersections between AI and crypto.

The company said that these advancements will enable Bitbank Ventures to absorb “rapidly changing technological and business trends” globally, positioning it as a significant player in the AI x crypto space.

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Next Phase Aimed At Synergies And Sustainability

As part of its strategy, the new subsidiary will align its investments with Bitbank’s existing operations to strengthen synergies across the company.

This will include sharing knowledge of Japan’s regulatory landscape, providing insights into the crypto market, and establishing connections with domestic and international stakeholders. 

Additionally, the focus on strategic alignment is expected to reinforce the network of its investment initiatives.

“Through Bitbank Ventures, we will also examine projects for synergies with our other businesses, provide extensive know-how on the Japanese market, and introduce domestic and overseas partners,” the company said.

Japan’s Evolving Crypto Policies Post-Election

In the wake of Japan’s recent election, the government has been showing a commitment to foster a secure yet progressive regulatory environment for cryptocurrency and blockchain innovations.

Corresponding to this, major Japanese companies have been making substantial investments in the Web3 space. For instance, SBI Holdings launched a JPY100 billion Digital Space Fund, earlier this year to support Web3 and AI startups. Meanwhile in August 2024, Sony introduced its blockchain, Soneium aimed at integrating Web3 into daily life.

Introducing #Soneium by #Sony Block Solutions Labs building a public Ethereum layer 2 next-generation blockchain ecosystem designed to invoke emotion and empower creativity.

Soneium aims to connect Web3 with everyday internet services, making blockchain technology more… pic.twitter.com/I7zAIbB5Td

— Soneium (@soneium) August 23, 2024

Nomura Holdings which is a principle member of  Nomura group, Japan’s leading investment bank and brokerage firm, has also ventured into the stablecoin sector, working with GMO Internet Group and Laser Digital Holdings to explore JPY and USD stablecoin issuance.

Meanwhile, amid increasing global competition in blockchain technology, Japan’s evolving policies are set to prioritize technological advancements within a carefully structured regulatory landscape. Regulatory frameworks have supported these developments.

In May 2024, Japan’s Liberal Democratic Party (LDP) had published a Web3 policy papers, titled “A New Era Where Technology Forms the Foundation of Society,” highlighting a commitment to a tech-driven future.

Although immediate changes are unlikely, the LDP’s focus will likely remain on stabilizing the economy and political landscape.

With potential coalition partners like the Democratic Party for the People (DPP), there may be an opportunity for future crypto-friendly reforms, particularly if coalition members push for specific crypto agendas.

Japan’s stance includes early regulatory measures like the 2022 stablecoin regulations and a virtual asset framework, which have set standards for other jurisdictions.

With policies that aim to balance innovation with secure oversight, Japan is positioning itself as an attractive hub for both domestic and international crypto ventures. 

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