Global expansion is essential for companies as it opens doors to new markets. Also, it brings the advantage of diversifying revenue streams and boosting brand recognition. This reality is considered by Japan-based Web3 developer HashPort. 

HashPort Group is tapping into the advantages of global expansion despite regulatory hurdles. Recently, the company secured 1.2 billion Japanese yen (about $8.5 million) in a Series C funding round.

The backing was made possible by Sumitomo Mitsui Banking Corporation (SMBC), The University of Tokyo Edge Capital Partners, and Japanese billionaire entrepreneur Yusaku Maezawa. With this remarkable investment, HashPort’s total funding has reached 2 billion yen (approximately $14.2 million).

The fund will be utilized to enhance HashPort’s business infrastructure. This includes establishing a comprehensive compliance management system and hiring experts proficient in navigating the complex global regulatory environment. The company’s primary goal is to facilitate growth while ensuring full compliance with all relevant regulations.

HashPort x Expo 2025 

This recent move comes shortly after HashPort Group’s president, Seihaku Yoshida, announced the company’s collaboration with Expo 2025 in Osaka, Japan. The partnership is aimed at fostering the development of innovative digital solutions. The focus will be on creating digital wallets and digital passports integrated with soulbound tokens (SBTs). 

Yoshida expressed his excitement about Expo 2025, anticipating over 28 million visitors. He stated that introducing more than 10 million individuals to Web3 during the event would mark a significant milestone for them.

About HashPort 

HashPort is a Japanese blockchain developer that has two divisions. Namely, a blockchain consulting and system solutions and a public chain called HashPalette is focusing on NFTs. HashPort is also planning to release a metaverse game called The Land Elf Crossing in the final quarter of 2023.

In July 2021, HashPort’s Palette Chain and Coincheck launched Japan’s first initial exchange offering (IEO) called PLT, raising $160 million (22.45 billion yen). Now, Palette Chain’s NFT marketplace, PLT Place, boasts over 370,000 users.