Blockchain provider Fireblocks sets up office in Japan to support institutional adoption

As Japan signals plans to become a leader in enterprise blockchain adoption, Fireblocks is opening a regional office in Tokyo to support the country’s expanding ecosystem.

Crypto custody and blockchain infrastructure provider Fireblocks has opened a new office in Tokyo as part of its expansion strategy in the Asia-Pacific region, the firm said in a blog post.

Fireblocks explained that this move comes at a time when Japan is seeing rapid growth in the crypto market, with predictions pointing to a 54% increase from 2024 to 2032.

Amy Zhang, Fireblocks’ APAC president, said the Tokyo office will help Fireblocks hire more staff in 2025 to support Japanese businesses. The company also plans to establish partnerships with various web3 companies and financial institutions to strengthen its position in the region.

Commenting on the office opening, Fireblocks CEO Michael Shaulov said the firm aims to meet the specific needs of the Japanese market and “enable Japanese businesses to leverage the full potential of blockchain technology in a secure and scalable way.”

Fireblocks’ expansion into Japan is in line with the Japanese government’s commitment to include cryptocurrency tax cuts in its upcoming economic stimulus package. The initiative, set to raise tax-free income thresholds and lower taxes on crypto assets, was proposed by the opposition party, the People’s Democratic Party.

As Crypto.news previously reported, these tax reforms aim to make Japan’s tax system more supportive of digital asset growth; Some proposals aim to reduce crypto taxation to match the 20% rate on stock profits.