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Japanese Web3 developer HashPort Group raises $8.5M in funding round

Japanese blockchain developer HashPort has raised 1.2 billion Japanese yen ($8.5 million) in a Series C funding round led by Sumitomo Mitsui Banking Corporation. According to the July 28 announcement, the funds will allow HashPort to consolidate business and secure a compliance management system and related personnel to navigate the sophisticated global regulatory environment for its expansion. In July 2021, HashPort’s Palette Chain partnered with cryptocurrency exchange Coincheck to launch Japan’s first initial exchange offering (IEO), or an initial coin offering facilitated by an exchange. HashPort Group president Seihaku Yoshida said the company plans to cooperate with Expo 2025.

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