Japanese game developer Gumi Inc. has announced plans to purchase Bitcoin worth 1 billion yen (around $6.58 million) by May 2025 as part of its strategy to strengthen its cryptocurrency position.
Gumi Joins Babylon Staking
The company's board of directors approved this decision as part of its strategy to expand its blockchain node operation business. Gumi will become the first publicly listed Japanese company to serve as a validator in the Babylon staking protocol, allowing it to earn rewards and contribute to blockchain security.
Asian Companies Continue to Adopt Bitcoin
Gumi's decision underscores the growing trend of Asian businesses investing in cryptocurrency. In December 2024, Japanese energy and consulting firm Remixpoint added Bitcoin worth $1.38 million to its portfolio. Tokyo-listed Metaplanet also saw a sharp rise in its stock value after adopting a Bitcoin standard in April 2024.
Expanding Institutional Cryptocurrency Network Amid Regulatory Actions
Institutional interest in cryptocurrency is rising in Japan, even as the country tightens regulations on unregistered crypto exchanges. Recently, Apple removed trading apps like Bybit, Bitget, among others, from its Japan store in line with directives from Japan's Financial Services Agency (FSA).
The moves by Gumi and other Asian firms indicate a growing interest in cryptocurrencies and a strengthening of the Web3 industry. However, the increased regulatory measures highlight the need for compliance with local laws and standards.
