According to a recent press release, NEO Foundation has recently signed a deal with Blockchain venture fund Gumi Cryptos to propel its expansion into the Japanese market. The is a win-win partnership for both of these organizations given that they have vested interest in propelling the adoption of the disruptive technology.
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NEO, or China’s Ethereum, is considered to be one of the leading smart contract platforms. The NEP-5 protocol allows different tokens to piggyback of its Blockchain. NEO is yet to make the same impact as Ethereum, but its underlying technology holds a lot of promise.
The fund, which is owned by Tokyo-based game publisher Gumi, specifically invests in cryptocurrency-related businesses. Gumi Cryptos makes it easier for established cryptocurrency businesses to understand and access the Japanese market.
As a key blockchain infrastructure, NEO is partnering with gumi to leverage the latter’s leading edge in the gaming sector to move towards a more diverse and optimized Internet era,” says NEO Founder Da Hongfei.
It is worth noting that Japan became the very first country to legalize Bitcoin, which makes it a pivotal market for crypto businesses. The Japanese yen (JPY) is also the second most traded fiat currency against BTC after the US Dollar.