Bitcoin exchange provider Coinbase has raised $10.5m in new funding from investors including Bank of Tokyo Mitsubishi UFJ, Mitsubishi UFJ Capital and Silicon Valley VC firm Sozo Ventures.
In statements, Coinbase said that the partnership will help it bridge the gap between blockchains and the traditional financial industry.
With the news, Coinbase said it would seek to launch services in Japan, a move that would make it the second Asian market served by the firm.
Coinbase’s all-time funding total now stands at $116.7m, a figure that puts it behind bitcoin payment services provider Circle, which has raised $136m in four public funding rounds.
Investors in previous Coinbase rounds include the New York Stock Exchange (NYSE), BBVA Ventures and QueensBridge Venture Partners.
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