TechBureau raised $6.2m in Series A round to expand Japanese bitcoin exchange Zaif

TechBureau raised $6.2m in Series A round to expand Japanese bitcoin exchange Zaif

TechBureau is the parent company of Japanese bitcoin exchange Zaif. In a new press release from the company, they have announced that they have raised $670 million YEN ($6.2 million USD) in a Series A funding round.

TechBureau has formed strategic business partnerships with companies with the goal of promoting and developing bitcoin related services and blockchain technology with a strategic business alliance and focus on fintech.

According to its announcement, TechBureau will use the new capital for improvement and expansion of Zaif, research and development, and testing for its blockchain technology mijin. SMN Weekly says that the new capital will also be used to open overseas offices, hire more staff, consolidate a framework for open-source project for mijin and launch of its paid-license.

Zaif is a Japanese bitcoin exchange which provides users with the options to buy and sell bitcoins using their online platform which focuses on the Japanese market. Users can fund their accounts with a bank transfer or cash deposit using Japanese Yen (JPY) local currency.

Just last month, during a peak period of bitcoin trading in Japanese Yen (JPY), Zaif set a new record for themselves for the amount of funds traded during a 24 hour period. According to their corporate blog, Zaif exceeded 45,000 BTC trading, which converts to $19 million in US Dollars or $20 billion Yen.

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david@bitcoin.com'
David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.