GUGroup, the promoter of Japan Open Chain, has raised a 420 million yen ($2.9m) funding. Japan Open Chain is an Ethereum compatible public blockchain with enterprises running the validator nodes. They include Sony subsidiary Corgear, NTT Docomo, Dentsu and Fukuoka Financial’s digital bank, Minna no Ginko.
The main backer announced today is Japan’s B Dash Ventures and the company also sold tokens to overseas investors.
One of GuGroup’s subsidiaries is GUCoin Studio, a stablecoin issuance solution. In March, the company announced three smaller banks were involved in experiments. The largest of the group is the Fukuoka subsidiary Minna no Bank, which is now a validator. Tokyo Kiraboshi Financial Group and Shikoku Bank were the two others.
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