Bitcoin’s cloudy future in Japan just got a bit brighter. The virtual currency has been slow to catch on in Japan following the collapse of noted bitcoin exchange Mt. Gox and the government’s subsequent refusal to categorize it as a currency. There are still proponents of Bitcoin in the country, however. Now you can add GMO, one of Japan’s largest internet infrastructure firms, to the list of fans.
2C2P, a Bangkok-based online payment processing company, has secured an undisclosed amount of funding from GMO Global Payment Fund, a sister company of GMO Payment Gateway, which also invested US$500,000 into the startup late last year. This investment aligns with the GMO Payment Gateway’s latest move to partner 2C2P as it expands into Thailand. Ryu Muramatsu, director and founding partner of GMO Venture Partners, explained the reasoning behind the latest round to Tech in Asia:
Today, GMO Internet Group‘s online payment service provider, GMO Payment Gateway Inc. (TSE1:3769), has announced the Thai launch of its global payment processing service, GMO-PG Global Payment, in partnership with regional epayment gateway, 2C2P. This marks the fifth overseas entity for the Japan-based company after Singapore, Hong Kong, Malaysia and Taiwan.