Fireblocks Opens Regional Office in Tokyo to Support Japan’s Blockchain Ecosystem
As Japan positions itself to be a leader in institutional blockchain adoption, Fireblocks has announced the opening of a new office in Tokyo to cater to the country’s growing blockchain ecosystem.
Crypto custody and blockchain infrastructure provider Fireblocks has set up a regional office in Tokyo as part of its expansion strategy in the Asia-Pacific region, according to a recent blog post by the firm.
The decision to establish a presence in Tokyo comes at a time when Japan is experiencing significant growth in its crypto market, with forecasts suggesting a 54% surge from 2024 to 2032, as highlighted by Fireblocks.
Supporting Japanese Businesses
Amy Zhang, Fireblocks’ head of APAC, emphasized that the new Tokyo office will enable the company to recruit more personnel in 2025 to better assist Japanese enterprises. Additionally, Fireblocks is looking to forge partnerships with various web3 companies and financial institutions to bolster its foothold in the region.
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Enabling Blockchain Technology Adoption
Commenting on the launch of the Tokyo office, Fireblocks CEO Michael Shaulov expressed the company’s commitment to addressing the specific requirements of the Japanese market and ensuring that local businesses can leverage blockchain technology securely and efficiently.
The expansion into Japan aligns with the government’s recent pledge to introduce cryptocurrency tax cuts as part of an upcoming economic stimulus package. The proposed measures, put forward by the Democratic Party for the People, aim to raise tax-free income thresholds and reduce taxes on crypto assets.
As reported by crypto.news, these tax reforms are designed to create a more supportive environment for digital asset growth in Japan, with proposals suggesting a reduction in crypto taxation to match the 20% rate applied to stock profits.
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