Iole prepares to enter cryptocurrency-related business; raises approximately 420 million yen from Web3 Fund

On the 26th, Iole, a company listed on the Tokyo Stock Exchange Growth Section, announced that it will carry out a third-party allotment of new shares to JAIC-Web3 Investment Limited Partnership Fund and ZUU Co., Ltd. The aim of the fundraising of approximately 420 million yen is to prepare for entry into the cryptocurrency finance business and strengthen the AI ​​data center business.

Approximately 196 million yen of the funds raised will be used to prepare for entry into the cryptocurrency finance business. The company stated that "In Japan, there are occasional cases of listed companies holding cryptocurrencies, particularly Bitcoin," and is focusing on the market's expansion potential.

According to data from the Japan Cryptocurrency Exchange Association, in 2023...