Blockstream forms partnership with Digital Garage, alongside new funding

Blockstream has formed a new partnership with Japan-based Digital Garage, alongside an injection of capital.

The capital was supplied by DG Daiwa Ventures, which is a joint vehicle between Digital Garage and Daiwa Securities Group. While the value of the equity injection was undisclosed, it brings total fundraising efforts by Blockstream to $80m.

Blockstream is a blockchain technology developer, which uses cryptography for commercial privacy within blockchain infrastructures. The company is forming partnerships to create a bitcoin micropayment system that supports high levels of small payments.

This partnership will also see The Tokyo Tanshi, one of Japan’s largest inter-dealer brokers, work alongside the companies on a variety of blockchain projects. The first involvement will see Tokyo Tanshi AND dg Lab work with Blockstream to issue and circulate local currencies through the blockchain technology and enter the cryptocurrency OTC market.

Digital Garage group CEO Kaoru Hayashi said, “This expanded partnership is coming at a time in the Japanese market where we’re seeing incredible interest in Bitcoin and blockchain technologies.

“Japan is on the forefront of financial innovation and is a leader in digital assets. In this future-looking market, it was imperative that we have a solid technology foundation on which to build industry-leading, blockchain-based financial applications for our customers. Blockstream’s Elements Blockchain Platform gives us the solid foundation we need – it’s highly secure, thoroughly tested, and backed by the blockchain experts at Blockstream.”

There has been a lot of activity within the blockchain sector in recent weeks. Earlier this month former head of emerging business and technology at BNY Mellon launched a P2P smart contract platform based on Ethereum. Other recent activity includes Zilliqa forming a partnership with FBG Capital, and Coinfirm launching a cryptocurrency.

Earlier this week, Japan-based DMM.com acquired e-commerce solution CASH in a deal worth JPY 7bn ($62.2m).

Copyright © 2017 FinTech Global

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