Crypto: Animoca, Rootstocklabs Partner To Bring Bitcoin Defi To Japanese...
The partnership targets Bitcoin treasury management for Japanese companies using Rootstock-based tools, including rBTC and RIF.
Animoca Brands Japan has partnered with RootstockLabs to introduce Bitcoin-native decentralized finance (DeFi) tools to Japanese corporations and institutions.
The collaboration aims to localize and deploy Rootstock’s institutional program for the Japanese market, enabling companies to manage Bitcoin (BTC) as part of their corporate treasury strategies while accessing onchain financial tools secured by Bitcoin’s proof-of-work (PoW), according to a Tuesday announcement shared with Cointelegraph.
“In Japan, an increasing number of companies are beginning to utilize cryptoassets as part of their financial and treasury strategies,” said Kensuke Amo, CEO of Animoca Brands Japan. “Through this partnership, Animoca Brands Japan and RootstockLabs will support corporate adoption of cryptoassets in a manner compliant with Japan's regulatory environment.”
Rootstock is a Bitcoin sidechain secured by a majority of Bitcoin’s total hash power through merged mining. The design allows Rootstock to inherit Bitcoin’s security while supporting Ethereum-compatible smart contracts. RootstockLabs is a core contributor to Rootstock.
Related: From 55% to 20%? How Japan plans to fix its crypto tax rules
The partnership will focus on helping Japanese companies manage Bitcoin as part of their treasury operations, including exploring Bitcoin-based financial tools and services built on Rootstock. The companies said they will also look at ways businesses could use these tools to improve treasury efficiency, while staying within Japan’s regulatory framework.
The two companies will assess the use of Rootstock-based assets such as Rootstock Bitcoin (rBTC), a Bitcoin-pegged token used in its DeFi ecosystem, and Rootstock Infrastructure Framework (RIF), a suite of utility protocols built on the Rootstock sidechain to scale Bitcoin by enabling faster, cheaper decentralized applications (dApps).
Animoca Brands Japan may offer these services through its Digital Asset Treasury Management Support Service.
Related: Japan's Financial Regulator to Ban Crypto Insider Trading
Source: CoinTelegraph
