According to the company, by June 30, the number of crypto and blockchain-related companies in the country grew to 430 companies, or a 30.7% jump from July 2019, when the number of companies was only 329.
Many of these companies focus on both crypto and blockchain. In fact, some 64% are fully focused on these two segments, whereas the other 36% have implemented the assets as a non-primary product.
Monex argued that an estimated 193 crypto and blockchain companies are defined as large corporations, showing the success some have had in leveraging the power of both cryptocurrencies and the blockchain.
While many companies have focused on traditional operations such as finance or healthcare, a huge part of the industry is focusing on gaming. However, there have been growing regulatory concerns about the quick proliferation of gaming companies.
Therefore, the choice of a website you can trust has become more difficult. Thankfully, there have been established marquee companies in the sector, such as FunFair Technologies, which operates a fully localised software in the country.
The Japanese yen is the second most traded currency against the US dollar, making it clear why casino and entertainment companies leveraging the power of blockchain and cryptocurrency have skin in the game.