Nippon Technology Venture Partners (NTVP), Tech Bureau Inc. invested $835,000 in Zaif, the world's largest Monacoin exchange. It was launched in 2014 and now has the potential to become Japan's largest cryptocurrency exchange.
"Crypto currencies are the key to a worldwide financial revolution that is taking place right now," said Kazutaka Muraguchi, general partner of NTVP. "Tech Bureau could become the hub that connects Japan to the global crypto currency market."
As compared to other countries, Japan has been slow to accept digital currencies such as bitcoin. At present, there are less than 100 retailers that accept bitcoins in the country.
"Although we have several Bitcoin payment processors here, there are no real incentives for retailers to accept bitcoins," said Tech Bureau's CEO, Takao Asayama. "Before we get more retailers on board, we first need to increase the number of Japanese people who are willing to own and use Bitcoin."
