Recruit Invests in Coti, A Next-Generation Blockchain Provider
Recruit Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President : Yoshihiro Kitamura; referenced below as "Recruit"), an intermediate holding company of Recruit Holdings Co., Ltd., has finished investing in Coti Holdings Limited (Headquarters: Israel; CEO: Shahaf Bar Geffen; referenced below as "Coti"), a company that provides next-generation blockchain using the cryptocurrency technology DAG, via its investment arm RSP Blockchain Tech Fund Pte. Ltd.
１．Background and Purpose
Recently, cashless payment technology and payment methods based on blockchain-based cryptocurrency technology have been in the spotlight. However, existing cryptocurrencies are limited by the number of transactions that can be processed within a certain time frame, as well as issues with user identity verification which have resulted in necessary countermeasures against money laundering activities.
２．About Investment in Coti Holdings Limited
The next-generation blockchain technology developed and provided by Coti is unique for the way in which blocks of transaction information are clustered into chains as well as the system's scalability as the number of blockchain users increases. With a dramatically faster transaction processing speed than conventional blockchain technology, Coti's technology is able to service the processing needs of everyday payments. Furthermore, the transaction history tool developed by Coti allows one to automatically detect payments to potentially suspicious accounts.
Through our investment, Recruit aims to improve the service quality of Coti, as well as to support the expansion of its user base.
|（1）||Company Name||Coti Holdings Limited|
|（2）||Representative||Shahaf Bar Geffen|
|（3）||Location||17th floor, Building Alon2, Yigal Alon 94, Tel Aviv, Israel|
|（6）||Business Overview||Development of blockchain-based payment technology and application|
３．About RSP Blockchain Tech Fund Pte. Ltd.
In a social environment where the potential and capabilities of blockchain technology are rapidly growing, RSP Blockchain Tech Fund Pte. Ltd. recognizes the rising importance of seeking out business opportunities in this area, and makes prompt investments in startup companies that are involved in blockchain technology. Instead of acquiring shares in return for our investment, we raise funds for startup companies via the use of tokens, and through this investment, promote both the development of blockchain technology as well as public awareness of it.
|（1）||Company Name||RSP Blockchain Tech Fund Pte. Ltd.|
|（5）||Business Overview||Investment and venture capital firm|