debt financing
Nippon Export and Investment Insurance (NEXI) has provided loan insurance for back financing related to a loan extended by a venture debt fund to Hella Infra Market Singapore, a Singapore-based subsidiary of an Indian start-up company. This marks the first individual transaction under the framework agreement entered into by NEXI,
FHE
Fhenix, the leading infrastructure protocol powering Private DeFi via homomorphic encryption, has received strategic investments from BIPROGY and the Translink Sustainability & Innovation Fund. BIPROGY, renamed from Nihon Unisys in 2022, is one of Japan’s largest IT service providers, with a strong footprint in the financial sector. This move
stablecoin
Secured Finance AG, a Japanese-founded, Swiss-incorporated developer of fixed-rate DeFi lending protocols, has announced a new suite of products built around the Japanese yen stablecoin JPYC. The initiative aims to bring the Yen yield curve on-chain, enabling global investors to access the Japanese interest-rate market through transparent, decentralized infrastructure. Key
stablecoin
TIS, part of the TIS INTEC Group, and Ava Labs have launched the "Multi-Token Platform", which supports the issuance and management of next-generation digital financial services including stablecoins and security tokens. The "Multi-Token Platform" is a service that provides platform functionality necessary for tokenizing various financial
sustainability
ASUENE has completed the acquisition of 100% of the shares and integration of Iconic Air, a U.S. company providing GHG visualization and methane leak management SaaS. Following NZero, this second M&A further accelerates the expansion of ASUENE's U.S. operations and strengthens our technological foundation.
crypto
The Financial Services Agency (FSA) hosted the 4th Meeting of the Financial System Council Working Group on Crypto-Assets on October 22, 2025. The discussion focused heavily on cybersecurity, the strengthening of the self-regulatory organization (SRO) Japan Virtual and Crypto Assets Exchange Association (JVCEA), and the future regulatory framework for crypto
IPO
Infcurion debuted on the TSE’s Growth Segment on Friday, October 24, 2025. After bookbuilding resulted in a ¥1,680 reference price, above the indicated range up to ¥1,600, the stock’s first quote was ¥1,560, and the closing price ¥1,451, altogether an underwhelming debut. At the
banking
S&P Global Ratings recently hosted a webinar, "Corporate Japan’s Cross-Border Funding Enhance Financial Flexibility," focusing on the drivers, credit implications, and the relationship between corporates and domestic banks. The webinar also included coverage of new issuers, which we have excluded from this reporting on the
corporate venture capital
DG Daiwa Ventures (DGDV), a venture capital firm investing both domestically and internationally, has completed the final close of "DGDV Fund III E.L.P. Cayman", which targets seed and early-stage startups in Japan and abroad, at over 10 billion yen. Additionally, coinciding with the launch of Fund
alternatives
The Government Pension Investment Fund (GPIF) has been increasing its exposure to alternative investments (infrastructure, private equity and real estate). To regularly and efficiently obtain detailed data on the investment performance of funds in the market, GPIF begins building a database on alternative assets. The GPIF's 5th 5-year
corporate venture capital
Habit Factory, a Seoul, South Korea-based AI-driven fintech company, has raised KRW 35 billion in Series D funding. The round was led by Z Venture Capital (ZVC) and Smilegate Investment, with participation from Industrial Bank of Korea, IBK Venture Investment, Kolon Investment, KB Investment, and Shinhan Venture Investment. Z Venture
corporate venture capital
SBI Holdings, through its U.S. subsidiary SBI Holdings USA, has made an investment in the AI2 Incubator Fund III newly established by AI2 Incubator Partners, an AI incubator. This investment aims to capture global investment opportunities in the AI field and strengthen collaboration with startups possessing cutting-edge technology. AI2