Arbitrum Foundation Partners with Fracton Ventures to Enhance Arbitrum Presence in Japan

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Sep 29, 2023, 09:00 ET

The partnership will promote the rapid development of the Arbitrum ecosystem in Japan and help grow blockchain technology within the region

NEW YORK, Sept. 29, 2023 /PRNewswire/ -- The Arbitrum Foundation today announced a strategic business alliance with Fracton Ventures Co., Ltd. to launch support for Arbitrum scaling solutions in Japan. Through this partnership, Arbitrum Japan will be developed by Fracton Ventures and will promote the growth of blockchain technology within the region by sparking development and consumer interest within the fast-growing Arbitrum ecosystem.

The Arbitrum Foundation has a mission to help support and grow the Arbitrum network and its community while remaining at the forefront of blockchain adoption. Arbitrum is recognized as the leading Layer 2 scaling solution on Ethereum, accounting for nearly 55% of Total Value Locked (TVL) across L2 chains (source).

"We feel there is huge untapped potential within the Japanese region," stated Nina Rong, Head of Ecosystem Development at The Arbitrum Foundation. "In our collaboration with Fracton Ventures, we feel we are uniquely positioned to reach a new demographic of developers, innovators, and blockchain-curious consumers that haven't previously been exposed to the benefits of blockchain technology and how Arbitrum has leveraged that tech to become the leading Layer 2 scaling platform throughout the industry."

Siddharth Pillai, Head of Partnerships at Fracton Ventures added: "When the opportunity presented itself to grow Arbitrum in Japan, we felt strongly that we would be the best partner to help bring the vision of Arbitrum Japan to life. Our region is ripe for innovation within the blockchain sector, but hasn't yet had the exposure to leading technology and developer tools - now, with Arbitrum Japan, they will have the opportunity to fully harness the power of blockchain."

Fracton Ventures, a Protocol Studio for Ethereum, leverages its network of experts, investors, and developers who co-create the future of web3 as contributors rather than just supporters. With a proven track record leading educational and research activities, as well as global expansion efforts into and from Japan, Fracton Ventures provides opportunities for projects in the web3 space to connect with Japanese investment groups and support product and business development needs.

The partnership will develop a series of activities across multiple verticals, including business development and ecosystem building, and education and community support.

Strategic Business Development and Ecosystem Building
This partnership will enable Japanese companies and governments to develop new businesses by taking advantage of Arbitrum's advanced scalability and security features. Fracton Ventures will promote the growth of the Arbitrum ecosystem in the Japanese market and support business development that leverages Japan's unique IP and assets, such as finance and entertainment. Through this, the companies aim to develop business in a variety of fields, including collaboration between web2 and web3 companies.

Education and Community Support
The Arbitrum Foundation and Fracton Ventures will focus on expanding technical educational content and strengthening the developer community. This initiative will accelerate the understanding and adoption of the technology in the Arbitrum ecosystem. Additionally, the teams aim to revitalize the community and improve skills through AMA sessions, hackathons, and more. In the region, University Ambassadors and Community Managers will be tasked with spearheading activities to bolster the usage of Arbitrum.

About The Arbitrum Foundation
The Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and its community with secure scaling solutions for Ethereum. Arbitrum One—a leading Ethereum Layer-2 scaling solution initially developed by Offchain Labs—offers ultra-fast, low-cost transactions with security derived from Ethereum through Optimistic Rollup technology. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 54%+ TVL in the L2 segment. 2000+ DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.

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SOURCE Arbitrum Foundation