Blockstream has opened an office in Tokyo, Japan to lead Bitcoin adoption in Asia.
Blockstream, in collaboration with Diamond Hands and Fulgur Ventures, is looking to boost the adoption of Bitcoin-based Layer 2 technologies in Asia. The company recently announced the opening of a new office located in Tokyo that will serve as an operations center to accelerate the adoption of the cryptocurrency throughout the region.
According to the company, considered one of the most influential in the development of blockchain infrastructure, this office will focus mainly on promoting the use of networks L2 like Lightning Network and Liquid Network, based on Bitcoin, as well as on the Self-custody of cryptoassets and tokenization of real-world assets (RWA).
BUY BITCOINJapan, considered one of the most technologically advanced markets in the world, represents a strategic expansion for Blockstream, coming at a crucial time for the market and its companies, with growing institutional interest in Bitcoin and greater regulatory clarity globally.
Blockstream explores new opportunities in Japan
Adam Back, co-founder and CEO of Blockstream, highlighted the importance of establishing a direct operation in Japan, considering the favorable shifts the country has been making towards digital assets. Back emphasized that this move could empower Japanese businesses and investors to fully leverage Bitcoin as a foundation for a secure, scalable, and decentralized financial future. He noted that Japan is one of the most important markets in the world and has been moving towards more favorable regulation and openness to innovation.
“With increased regulatory clarity and growing institutional interest in Bitcoin, now is the time for Blockstream to establish a direct presence in Japan, one of our most important markets.”, said Back.
The opening of a new office in Tokyo represents a geographic expansion for Blockstream, which also reinforces its long-term commitment to developing and strengthening the Bitcoin ecosystem in Japan, combining enterprise-grade infrastructure, strong local partnerships and a focus on innovation.
Increased institutional interest
Institutional interest in Bitcoin has seen a significant boom in Japan, with Japanese companies such as Metaplanet, Remixpoint and Gumi, making strategic allocations in the cryptocurrency, which is now part of its corporate reserves.
According to Back, Blockstream is looking to capitalize on this interest by offering treasury, payment infrastructure and custody solutions designed to meet the needs of local businesses looking to participate in the Bitcoin economy.
Today, this surge in adoption of the leading cryptocurrency is spreading to small and medium-sized businesses, which see Bitcoin as a unique opportunity to diversify their assets and protect themselves against fiat currency inflation. In this context, regulatory clarity in Japan has facilitated the entry of these companies into the crypto market, providing a stable framework that encourages investment and innovation.
It is worth noting that Blockstream, with its experience in building enterprise-grade Bitcoin infrastructure, is well positioned to meet this growing demand and help Japanese businesses make the most of the opportunities offered by Bitcoin. The collaboration with Diamond Hands, a leading Bitcoin strategy consultancy in Japan, will allow the company to better understand the specific needs of the local market and tailor its solutions accordingly.
Layer 2, scaling Bitcoin for the financial future
On the other hand, the adoption of layer 2 technologies such as Lightning Network and Liquid Network is gaining ground in Japan, driven by the need for faster and cheaper solutions for Bitcoin transactions. Several major exchanges and companies in Japan are already implementing these technologies to improve the efficiency and scalability of their operations. Now, Blockstream is working directly with local financial institutions, payment providers, and fintech innovators to further explore and implement these technologies.
Networks like the Lightning Network allow users to make instant micropayments with very low fees, making it an ideal solution for retail and other applications where fast and inexpensive transactions are required. Meanwhile, the Liquid Network offers a sidechain for Bitcoin that enables the issuance of digital assets and the execution of smart contracts, opening up new possibilities for financial innovation.
Therefore, by driving the adoption of these Layer 2 technologies, Blockstream will be helping to build a more scalable and efficient financial future for Japan, where Bitcoin could be used for a wide range of applications, ranging from everyday payments to complex financial transactions. The company also said it will focus on self-custody, with the aim of allowing users to have full control over their crypto funds, without relying on third parties.
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RWA Asset Tokenization
Another of the key sectors that Blockstream will focus on from its new office is the tokenization of real-world assets (RWA). The company assured that it will take advantage of Bitcoin's native infrastructure on Liquid Network to open new opportunities for companies, investors and financial institutions in the region that want to explore this technological innovation.
Asset tokenization allows for fractional ownership of illiquid assets, such as real estate and artwork, by representing these fractions as tokens on the blockchain. All of this makes these assets and markets more accessible to a wider audience. Furthermore, tokenization also allows for the automation of complex financial processes, which could be useful for simplifying asset management and transfer, improving transparency and security in transactions, and reducing operational costs, among other benefits.
Blockstream's strategic approach
Overall, Blockstream’s focus on Bitcoin and Web3 innovation aligns with the Japanese government’s vision of turning the country into a global hub for blockchain technology and cryptocurrencies.
Rintaro Kawai, representative of Fulgur, assured that the success of the conference Bitcoin Tokyo 2024, which Diamond Hands was a part of, reflects Japan’s growing interest in Bitcoin. “We are confident that Blockstream’s expansion into Japan will build on this momentum and be a resounding success,” he said.
Thus, the combination of favorable regulation, a vibrant technological ecosystem, and growing institutional interest in Bitcoin has created an enabling environment that Blockstream seeks to capitalize on to accelerate innovation and growth in the Web3 space.
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