On September 29, 2023, the Arbitrum Foundation unveiled a significant strategic partnership with Fracton Ventures Co., Ltd., to broaden the horizons of Arbitrum scaling solutions in Japan. This joint venture, christened Arbitrum Japan, is geared towards enhancing blockchain technology adoption and spearheading the growth of the Arbitrum ecosystem within the Japanese domain.
The primary objective behind this strategic alliance is to expedite the expansion of the Arbitrum ecosystem in Japan and to proliferate the adoption of blockchain technology in the region. Arbitrum, acclaimed as a prominent Layer 2 scaling solution on the Ethereum blockchain, currently holds a commendable position with nearly 55% of the Total Value Locked (TVL) across Layer 2 chains.
Fracton Ventures, with its established reputation in Ethereum protocol development, will helm the inception of Arbitrum Japan. This endeavor is anticipated to galvanize consumer interest and developer involvement in the Arbitrum ecosystem. Moreover, the partnership aims to unlock new business prospects by capitalizing on Arbitrum’s superior scalability and security features, particularly in the realms of finance and entertainment.
In addition to business development, a significant focus of the alliance is to augment technical education and fortify the developer community within the region. A suite of activities including Ask Me Anything (AMA) sessions, hackathons, and other community-centric initiatives are slated to fast-track the comprehension and adoption of Arbitrum technology.
Established in March 2023, the Arbitrum Foundation has been steadfast in its mission to propel the Arbitrum network and its community forward, while cementing its position at the vanguard of blockchain adoption. The cornerstone of the foundation, Arbitrum One, conceived by Offchain Labs, emerges as a leading Layer-2 scaling solution for Ethereum, boasting over 54% TVL in the Layer 2 segment. With an extensive repertoire of more than 2000 DeFi and NFT projects thriving within its ecosystem, the Arbitrum Foundation continues its endeavor to provide robust scaling solutions for the Ethereum blockchain.
Nina Rong, Head of Ecosystem Development at The Arbitrum Foundation, articulated the immense untapped potential within the Japanese region. Through the collaboration with Fracton Ventures, she envisages a unique positioning to connect with a new demographic of developers, innovators, and blockchain-curious consumers who have not yet explored the advantages of blockchain technology and how Arbitrum has harnessed it to emerge as the leading Layer 2 scaling platform across the industry.
Siddharth Pillai, Head of Partnerships at Fracton Ventures, echoed similar sentiments. He emphasized that the partnership embodies an opportune moment to extend Arbitrum’s footprint in Japan, as the region is primed for innovation within the blockchain sector.
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Source: https://blockchain.news/news/Arbitrum-Foundation-and-Fracton-Ventures-Ally-to-Boost-Arbitrum-Adoption-in-Japan-fa42b3a0-253b-4dae-b65b-a8f3f6d91c04