The Japan based blockchain developer company, HashPort has raised $8.5 million in its latest funding round. Company’s Series C funding round was led by Japanese banking giant Sumitomo Mitsui Banking Corporation and University of Tokyo Edge Capital Partners (UTEC).
A billionaire entrepreneur Yusaku Maezawa was also a major investor in this funding.
HashPort has developed a NFT focused public blockchain called HashPalette. The company also has a blockchain consulting firm in Japan. It is launching a metaverse game dubbed The Land Elf Crossing this year.
The raised funds will be used for its global expansion related operations including forming a compliance management system for the regulatory environment.
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Seihaku Yoshida, the President of HashPort, said that the company has plans to cooperate with Expo 2025 which is to be held in Osaka. They will build wallets and digital passports using SBTs (soulbound tokens) for expo visitors.
HashPort launched Japan’s first IEO (Initial Exchange Offering) for its blockchain Palette in July, 2021. The IEO was held on crypto exchange Coincheck, which raised $160 million (22.45B YEN).
