Hong Kong-based SmartUp, a blockchain incubation platform, has raised $5 million from Blockchain Japan to enable startups to gain financial support as well as entry to the global stage, according to a company statement.
SmartUp has also decided to take ValueCoin, backed by Blockchain Japan and FCO International Limited, as its first incubatee project.
ValueCoin, which has a membership base of over 56 million, seeks to enter the international market post receiving support from international partners by participating through SmartUp.
“We are looking forward to more collaboration with Blockchain Japan, not limited to incubating more quality projects, but also increase the awareness of regional market on blockchain technology applications,” said Ric Wu, founder of SmartUp.
Wu said, they will help match the incubate project with appropriate and quality resources to take the projects to the global stage.
Recently U.S. blockchain firm Ripple entered a partnership with a consortium of 61 Japanese banks to settle instant transactions.