Fireblocks Opens Tokyo Office to Tap into Japan’s Growing Crypto Market

Japan’s ambitions to become a leader in institutional blockchain adoption have led to Fireblocks establishing a regional office in Tokyo. This strategic move aims to support the country’s rapidly expanding crypto ecosystem.

Crypto custody and blockchain infrastructure provider Fireblocks has launched a new office in Tokyo as part of its Asia-Pacific expansion strategy. This development comes as Japan experiences significant growth in its crypto market, with projections indicating a 54% increase from 2024 to 2032.

Supporting Japanese Businesses and Web3 Partnerships

Amy Zhang, Fireblocks’ head of APAC, stated that the Tokyo office will facilitate the hiring of more staff in 2025 to support Japanese businesses. The company also plans to form strategic partnerships with various web3 companies and financial institutions to solidify its position in the region.

“We aim to meet the specific needs of the Japanese market and ensure Japanese enterprises harness the full potential of blockchain technology in a secure and scalable way.” – Michael Shaulov, Fireblocks Chief Executive

Aligning with Japan’s Crypto Tax Reforms

Fireblocks’ expansion into Japan aligns with the Japanese government’s recent commitment to introduce cryptocurrency tax cuts in its upcoming economic stimulus package. The proposed initiative aims to raise tax-free income thresholds and lower taxes on crypto assets, making Japan’s tax system more supportive of digital asset growth.

Some proposals suggest reducing crypto taxation to match the 20% rate on stock profits, creating a more favorable environment for digital asset growth.

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