In its most recent funding round, HashPort, a Japan-based blockchain developer, has raised $8.5 million with the participation of key investors such as Sumitomo Mitsui Banking Corporation and University of Tokyo Edge Capital Partners (UTEC).
Yusaku Maezawa, a millionaire businessman, also significantly contributed to this finance.
With a focus on NFTs, HashPort has developed a public blockchain called HashPalette. It has also started a blockchain consulting business in Japan and is preparing to release the metaverse game The Land Elf Crossing later this year.
The funds raised will support HashPort’s global expansion efforts, specifically in establishing a robust compliance management system to navigate regulatory requirements in various markets.
According to Seihaku Yoshida, the President of HashPort, the company has intentions to collaborate with Expo 2025 in Osaka. HashPort will implement the use of SBTs (soulbound tokens) to create wallets and digital passports for visitors to the expo.
In July 2021, HashPort made history by launching Japan’s inaugural IEO (Initial Exchange Offering) for its blockchain, Palette. This groundbreaking event took place on the popular crypto exchange, Coincheck, and resulted in an impressive fundraising amount of $160 million (22.45 billion YEN).
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