Summary
- Startale said it raised $63 million in its Series A round.
- It said the funds will be used to develop Strium, a Layer 1 blockchain dedicated to security token offerings (STOs), and to expand its stablecoin business.
- It said the fundraising shows major Japanese companies are moving in earnest to build stablecoin infrastructure and Web3.
Forecast Trend Report by Period
Startale, a Japanese Web3 company, has successfully secured a major funding round.
According to crypto industry media outlet CoinDesk on the 25th (local time), Startale raised a total of $63 million in its Series A round. The amount combines $13 million secured in January from the Sony Innovation Fund and a $50 million investment from the SBI Group.
Startale is a Web3 company jointly established by Japan’s SBI Holdings, Sony, and the Astar Foundation.
The proceeds will be used to develop “Strium,” a Layer 1 blockchain dedicated to security token offerings (STOs), expand its stablecoin business, and strengthen dedicated applications.
Previously, Startale unveiled the yen-pegged stablecoin JPYSC and the dollar-pegged stablecoin USDSC.
The fundraising is seen as an example of major Japanese companies moving in earnest to build Web3 and stablecoin infrastructure.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
