The Japanese crypto exchange Bitbank says it has launched a subsidiary that will focus on investing in overseas blockchain firms.
The company said the new business arm is named Bitbank Ventures. The exchange operator also said the new subsidiary would let foreign businesses establish a foothold in Japan.
Japanese Crypto Exchange Targets Overseas Partnerships
Per the Japanese media outlet CoinPost and the new firm’s website, Bitbank said its new “wholly owned subsidiary” would “act as a bridge to develop and deepen Japan’s cryptocurrency business.” The company wrote:
“We welcome blockchain-related projects, ranging from pre-seed to Series A, from both Japan and overseas.”
Several Japanese crypto exchange operators have launched similar operations in recent months, as they look to expand their reach.
These include the Bitbank rival DMM and its DMM Coin and DMM Crypto arms. bitFlyer, another leading Japanese exchange, is also hoping to expand its reach in Europe and other overseas locations.
