A Japanese bitcoin exchange operator and blockchain company, Tech Bureau announced that the FinTech company totally raised about 670 million JPY through third party allocation of shares as Series A round. The allotees include arara, infoteria, OKWAVE, Nippon Technology Venture Partners, Hiroshima Venture Capital, FISCO, and Money Partners Group. As we reported, Money Partners Group invested 49 million JPY in Tech Bureau.

In addition to the raising fund, Tech Bureau also formed strategic business alliances with the allotees about bitcoin related services and blockchain technology.

Tech Bureau plans to use the capital the company raised for following projects;

  • Improve and expand functions and services of Zaif exchange (bitcoin exchange)
  • Conduct research and development and proving test for various appilications utilizing P2P network of mijin, the company’s blockchain technology
  • Set up and operate support offices overseas for sales of mijin
  • Secure human resources and streamline business infrastructure in the country and overseas
  • Consolidate a framework for open-source project for mijin and launch of its paid-license
  • Sales promotions for Zaif and mijin

Last month, Tech Bureau’s private blockchain platform “mijin” was proved its applicability for accounting system by the third party proving test at SBI Sumishin Net Bank partnering with Dragonfly Fintech and Nomura Research Institute. It has been developed to a practical level. Before the official launch of its open source and the paid license, Infoteria will release “mijin adopter for ASTERIA WARP on May 18, 2016.

On April 7, 2016, Zaif Exchange hit a new record of bitcoin trading value for 24 hours. The exchange recorded the trading volume of 45,000 BTC which was worth of 2 billion JPY.

(Source: Tech Bureau via PR TIMES )

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