Recruit Co., Ltd. (Recruit Holdings), a global tech corporation headquartered in Tokyo, Japan, has recently announced a strategic investment in the Blockstack network. Recruit is one of the biggest Japanese internet companies with more than a $50 billion market cap. With Recruit’s help, the Stacks Blockchain and Blockstack developer tools will be introduced to forward-thinking developers in Japan.
Recruit Holdings has taken a decidedly human approach to technology since they formed in 1960. With large acquisitions of people focused businesses like Glassdoor ($1.2 billion) and Indeed ($1 billion) already under their belt, they are now leaning into the possibilities of blockchain with their blockchain fund and other efforts. Their corporate governance pledge of “ensuring transparency, appropriateness, and effectiveness of management to promote the sustainable increase of corporate value” aligns with Blockstack’s community-oriented approach and we’re excited to work with their team to bring more decentralized technology to Tokyo and beyond.
Japan is a key market when it comes to technology adoption. It is also a global leader in blockchain regulation which complements the regulatory work Blockstack has done in the US. The Stacks token, Blockstack’s native asset, was the first offering to receive qualification from the Securities Exchange Commission (SEC) in the US. Japan is one of the few countries with a well-established regulatory framework for crypto assets.
Recruit Strategic Partners, the investing team who led the investment at Recruit said: “Blockstack was an obvious choice for our next investment via the RSP Blockchain Tech Fund. We are constantly looking to uncover the most innovative, new technologies and business models, with the goal of increasing awareness of this technology in Japan. We are excited to support the expansion of Blockstack’s developer base, as the team continues to accelerate the growth of the Blockstack ecosystem.”
“We believe that the world is moving from cloud computing to decentralized computing and with this strategic investment we plan to explore use cases of Blockstack in the different cloud verticals that Recruit operates in,” said Blockstack PBC CEO Muneeb Ali.
SOURCE Recruit Co. and Blockstack
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