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Japan – Recruit invests in cryptocurrency processing firm

11 June 2019

Recruit Co. Ltd., the Japan-based staffing firms, reported an investment in Breez Development Ltd., a Tel-Aviv, Israel-based firm that developed an online cryptocurrency wallet that aims to improve cryptocurrency payment processing ability.

Breez’s product enables high-speed processing of micropayments, according to Recruit. In general, a transaction that takes ten minutes or more to approve on a blockchain can be safely processed in less than a second. Also, since it minimizes mining, power costs and payment fees can be reduced, according to Recruit.

Breez was established in May 2018 and its CEO is Roy Sheinfeld.

The company has developed and provides its own system as required for its ‘Lightning Network’, and users simply install the app on their smart device. They are also developing and providing point-of-sale systems to promote the introduction of cryptocurrency payments.

Through this investment, Recruit will support improvements to the quality and use of this service.

The investment was made through Recruit’s RSP Fund No. 6 LLC, which aims to discover new technologies and new business models and to acquire business opportunities, with a view to creating new areas of business for the Recruit Group.

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