HashPort, a Japanese blockchain developer, raised about 1.2 billion Japanese yen ($8.5 million) in a Series C funding round. The funding is expected to be initiated by Sumitomo Mitsui Banking Corporation, The University of Tokyo Edge Capital Partners and Yusaku Maezawa, a Japanese entrepreneur. Supposedly, this new round makes HashPort’s total funding about two billion yen ($14.2 million), stated Cointelegraph.
According to an announcement made on July 28, 2023, the funds will allow HashPort to create a compliance management system and related personnel in order to maintain the global regulatory environment for its expansion. The HashPort will be including its namesake blockchain-related consulting and system solution in Japan and HashPalette, a non-fungible tokens (NFTs)-based public chain. The company is also expected to launch The Land Elf Crossing, a metaverse game, in the fourth quarter, Cointelegraph added.
Sources revealed that the company plans to collaborate with Expo 2025, an upcoming expo to be held in Osaka, Japan, to build digital wallets and digital passports linked to soulbound tokens (SBTs).
“Expo 2025 is expected to attract more than 28 million visitors. If more than 10 million people experience Web3 for the first time, we believe this will be a historic event,” Seihaku Yoshida, president, HashPort Group, told Cointelegraph.
(With insights from Cointelegraph)