Security token platform Securitize has acquired Japan's blockchain technology consultancy firm BUIDL to expand the company's influence in Asia.
Established in 2018, BUIDL advises digital security projects in Japan on how to grow revenues and build a presence in the market. Co-founders include Securitize shareholder Global Brain and the CEO of blockchain payment company Omise, Jun Hasegawa.
"By acquiring BUIDL, a proven security token leader and blockchain innovator in Japan, Securitize is immediately better positioned to help develop the institutional-grade security token industry in Japan, Asia and beyond," said Securitize CEO and Co-Founder Carlos Domingo in a press release.
Securitize in September raised $14 million in a strategic round from investors, including Banco Santander, Mitsubishi UFJ Financial Groups, and Nomura Holdings, showing increased interest from investors in the cryptocurrency and security token space.
Securitize's acquisition of BUIDL takes place after the firm's recent decision to join the newly formed Security Token Research Consortium led by MUFG to mitigate regulatory risks following the Japanese government's newly amended law that classifies security tokens as liquid securities. The price of the acquisition is not yet disclosed.