Japan’s TechBureau Raises $6.2m to Fund Zaif Bitcoin Exchange
TechBureau has indicated they will use the US$6.2m in funding to improve and expand the accessibility of their Zaif exchange platform, which will bring Bitcoin to even more customers.
TechBureau Inc. has been making a name for itself over the past few months, as they operate one of the largest Japanese Bitcoin exchanges called Zaif. Their Series A funding is going quite well, as the company has raised US$6.2m so far.
Major Investors See the Value of TechBureau
The name TechBureau has been part of media headlines several times in the past, and the company is carving out a clear path for their business model. Running the Zaif Bitcoin exchange is just one of the projects this company is involved in, as they also focus on developing Bitcoin services in general.
This has attracted a good amount of investors, including Arara, Infoteria, OKWAVE, Nippon Technology Venture Partners, and Hiroshima Venture Capital. Additionally, two other companies have already made their investment intentions clear in the past, as both Money Partners Group and FISCO see the value of what this company is bringing to the table.
Securing additional funding is positive news, but TechBureau is looking well beyond the concept of money as well. Strategic partnerships can be far more valuable than any amount of money being raised right now, and the company has been making waves in this area as well. Promoting Bitcoin-related services will contribute greatly to boost cryptocurrency and blockchain adoption in Japan, as well as throughout the rest of Asia.
TechBureau has indicated they will use the US$6.2m in funding to improve and expand the accessibility of their Zaif exchange platform, which will bring Bitcoin to even more customers. Additionally, the team will also continue their development of mijin blockchain technology, and new offices will be opened overseas. New offices have to be filled with staffers, and an expansion of the TechBureau team is on the horizon.
Keeping in mind how Zaif recorded record Bitcoin trading volume in April of 2016, it seems clear cryptocurrency adoption is ready to take off in Japan. Additionally, their mijin blockchain project is aimed at bringing distributed ledger technology to financial institutions, and it can handle a high volume of transactions per second. Moreover, anyone can set up a blockchain on a peer-to-peer network to replace traditional databases.
Date of publication: May 12, 2016