Fireblocks Expands to Japan, Driving Institutional Blockchain Adoption in Asia-Pacific

As Japan takes decisive steps to position itself as a global leader in institutional blockchain adoption, Fireblocks, a premier crypto custody and blockchain infrastructure provider, has announced the opening of its regional office in Tokyo. This strategic move underscores Fireblocks' commitment to supporting the growing blockchain ecosystem in the Asia-Pacific region and leveraging the rapid growth of Japan’s crypto market.

Fireblocks Eyes Japanese Market Potential

The new Tokyo office marks a significant milestone in Fireblocks’ expansion plans. The company aims to capitalize on Japan's burgeoning interest in blockchain technology, a sector projected to grow by an impressive 54% from 2024 to 2032, according to the firm's estimates.

Fireblocks' Head of APAC, Amy Zhang, highlighted the importance of the new office, stating that it would serve as a hub for talent acquisition and business partnerships. The company plans to hire additional staff in 2025 to support its operations and foster collaboration with Japanese enterprises, web3 companies, and financial institutions.

“We see immense potential in Japan’s blockchain ecosystem and are committed to helping Japanese businesses adopt secure, scalable, and innovative blockchain solutions,” Zhang said.

Meeting the Unique Needs of Japan

Michael Shaulov, CEO of Fireblocks, emphasized the firm’s tailored approach to the Japanese market. “We aim to address the specific needs of Japan’s enterprises and ensure they can unlock the full potential of blockchain technology securely and efficiently,” Shaulov stated.

Fireblocks' expertise in crypto custody, tokenization, and blockchain-based payment infrastructure positions it as a key player in supporting Japan's institutional shift toward blockchain adoption.

Government Support for Blockchain Growth

Fireblocks’ expansion coincides with Japan’s progressive regulatory approach to digital assets. The Japanese government recently announced plans to include cryptocurrency tax reforms in its upcoming economic stimulus package. This initiative, spearheaded by the opposition Democratic Party for the People, aims to lower taxes on crypto assets and raise tax-free income thresholds.

One of the key proposals involves reducing the tax rate on crypto gains to align with the 20% rate applied to stock profits, making the tax system more supportive of digital asset growth. These reforms are expected to enhance Japan's appeal to blockchain and crypto-related businesses.

Strengthening the Asia-Pacific Blockchain Ecosystem

Fireblocks’ Tokyo office is part of the company’s broader strategy to expand its footprint in the Asia-Pacific region, a market that is witnessing accelerated blockchain adoption across industries. By forming strategic alliances and offering robust blockchain solutions, Fireblocks is well-positioned to contribute to the region’s digital transformation.

As Japan continues to roll out blockchain-friendly policies and attract global players, Fireblocks' presence is likely to bolster institutional adoption and drive innovation in the country’s blockchain landscape.

The move reflects a broader trend of growing institutional interest in blockchain technology, with Japan emerging as a key market for global firms aiming to establish a stronghold in the rapidly evolving sector.