NEO Foundation Inks Partnership with Major Japanese Blockchain Investment Fund 

The Chinese Ethereum is making a foray into the Japanese market by securing support from a top crypto fund 

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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.

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Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.