Japan’s Recruit Holdings Invests in US Blockchain Platform

Asia Blockchain Review
July 23, 2019

Recruit Holdings Co. Ltd., a major global staff provider based in Tokyo, Japan, has reportedly invested in Provenance Blockchain Inc., a US-based firm that provides a blockchain platform designed for the financial sector. 

The investment was made by RSP Blockchain Tech Fund Pte. Ltd., Recruit’s investment arm based in Singapore, according to a report published to the website of Staffing Industry Analysts. 

Blockchain Platform To Eliminate Financial Middlemen

Recruit Holdings explained that it sees potential in the blockchain firm, as the innovative technology is becoming a key factor in the financial industry. 

“Provenance offers a production blockchain platform where member financial services institutions can directly originate, finance and sell various financial products without intermediaries,” according to a statement by Recruit. 

Provenance is known as a blockchain for end-to-end loan transactions. In other words, its platform will be used to originate, finance, securitize, and trade loans in the secondary market, as well as receive payments. The emphasis is on the securitization aspect, a US$3 trillion market with significant room for cost savings. 

Blockchain Investment Rises in Popularity

Previously, Provenance Blockchain Inc. raised US$20 million in security token offerings (STOs) from blockchain and conventional tech investors, whose names were not disclosed. 

Recruit Holdings has also launched a US$25 million blockchain fund with the establishment of RSP Blockchain Tech Fund Pte. Ltd., launched in November 2018. The fund was made public in February with the announcement of investment in Beam Development Limited, another blockchain solutions provider based in Israel.

The fund is focused on blockchain startup companies primarily based overseas and will deal in both tokens and equity.

Source: https://www2.staffingindustry.com 

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Shenzhen Firms Issue 6Mil. Blockchain Invoices in 12 Months
The Chinese city of Shenzhen has reportedly issued almost 6 million blockchain-based invoices over t...

August 17, 2019

Thailand Considers Extending AML Regulations to Crypto
Thailand’s Anti-Money Laundering Office has revealed that it may extend AML regulations to include c...

August 17, 2019

The Future of DEXs
Decentralized exchanges (DEXs), which are non-custodial by nature, were also much more secure than t...

August 16, 2019

DECENTRALIZED FINANCE: Defying the Global Financial System
Although it was only established last year, the DeFi system has already locked in US$500 million wor...

August 16, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us