Blockchain tech startup LayerX has reportedly secured a 3 billion yen investment, directed to boosting the adoption rate of blockchain. 

Specifically, LayerX has successfully acquired the fund from venture capital firms JAFCO, ANRI, and Yahoo Group. 

“Corona has exposed various issues in Japan. It is further accelerating [digitization]. Blockchain is not just a technology buzzword.” Keisuke Miyoshi – a member of JAFCO board – reportedly remarked. 

The development has took place after insights reportedly showing a majority of the fundraising in the crypto sector has been moved from from the Americas to the Asia Pacific areas, Europe, the Middle East, and Africa. As revealed by PwC, 29% of crypto funding last year was for the Asia Pacific area. 

LayerX is reportedly working with the finance-focused arm of Mitsubishi – Mitsubishi UFJ Group – to offer digitization for firms and governmental entities. The company reportedly utilize cloud services by Dotcom, GMO Aozora Net Bank, and Money Forward for its services. 

Previously in November 2018, the Japan-based branch of tech giant Microsoft has reportedly forged an alliance with LayerX to promote the adoption rate of blockchain across the region.