Zaif is the latest Japanese bitcoin company to receive funding. The exchange has raised over $6.2 million so far. as part of its Series A funding round.
Zaif already has the distinction of being one of the leading bitcoin exchange in the country after it achieved record 24-hour trade volume of over 45000 bitcoins on 8th of April. The average sales among bitcoin exchanges in the country have considerably gone up in the recent days. In addition to increased interest among the Japanese, the recent proposal to recognize bitcoin on par with other fiat currencies by the government has contributed to investor interest in the segment as well.
According to reports, TechBureau – the parent company of Zaif has been on a fundraising spree for some time. As a part of the recent fundraising round, the company has allocated shares to Arara – a financial services company, OKWAVE venture capital, Nippon Technology Venture Partners, Hiroshima Venture Capital and Infoteria – an enterprise software company and other parties. Along with fundraising, Zaif will also be entering into a partnership with all the above-mentioned investors.
The partnership with venture capital, fintech and forex companies offers a great opportunity for Zaif to explore blockchain based services for enterprise customers. The increased adoption of blockchain services in banking and financial sectors has led to an increased demand for such technology. Zaif will be able to capitalize on the demand by being a blockchain service provider.
Zaif is not the only Japanese exchange to raise investments in the recent days. Earlier last month, another bitcoin exchange, bitFlyer announced that it raised over $27 million from SBI Investment and Venture Labo Investment to become one of the Japan’s highest funded bitcoin exchange in recent days.
As more and more people in the country show interest in bitcoin, more investments into the digital currency sector can be expected in the near future.
Ref: SMN Weekly