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Crypto & blockchain industry in Japan has grown 30% this year

 
Crypto & blockchain industry in Japan has grown 30% this year
Breaking News / Blockchain
  • Over the past year, the amount of crypto and blockchain related companies in Japan have increased by more than 30%.
  • Monex Group's Monex Crypto Bank revealed that there was over a 30% jump from the 329 businesses that were set up in the country in July last year.

Over the past year, the amount of crypto and blockchain-related companies in Japan have increased by more than 30%.

Speaking to Cointelegraph Japan at the end of last month on the 30th of June, Monex Group's Monex Crypto Bank revealed that there are over 400 blockchain-focused companies in Japan as of May this year which represents just over a 30% jump from the 329 businesses that were set up in the country in July last year.

Out of these companies, just under 65% of them have their primary focus on crypto and blockchain with around 36% of them being involved non-primarily.

The co-founder of Coincheck, Yusuke Otsuka has highlighted that the gaming industry could be a possible foundation for the so-called third pillar of crypto companies in Japan after platforms and mining.

But Otsuka further went on to note that there were some concerns when it came to regulation. He specifically mentioned again based on the slot machines that use cryptocurrency called gacha. It is unclear if the game can be classified as a gambling platform as Otsuka further went on to say that game developers needed to openly communicate with lawmakers in Japan.

For more news on this and other crypto updates, keep it with CryptoDaily!

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