Japan Blockchain Service Market Research Report By Platform (Ripple, Ethereum, R3, Hyperledger) and By Cloud (Private, Public, Hybrid)-Forecast to 2035

Japan Blockchain Service Market Overview

As per MRFR analysis, the Japan Blockchain Service Market Size was estimated at 134.18 (USD Million) in 2023.The Japan Blockchain Service Market is expected to grow from 173.46(USD Million) in 2024 to 2,429 (USD Million) by 2035. The Japan Blockchain Service Market CAGR (growth rate) is expected to be around 27.117% during the forecast period (2025 - 2035).

Key Japan Blockchain Service Market Trends Highlighted

The market for blockchain services in Japan is expanding significantly due to a number of factors, such as clearer regulations and more government support. The Japanese government has taken action to promote innovation while guaranteeing consumer safety after realizing the potential of blockchain technology.

In order to increase efficiency, security, and transparency, companies in a variety of industries, including finance, healthcare, and logistics, are also embracing blockchain technology. An important factor driving the market is the convergence of industry demands and government initiatives, which creates an atmosphere that is ideal for the growth of blockchain services.

There are several opportunities in industries like supply chain management, where blockchain can improve accountability and traceability. Japan is a global leader in technology and industry, so integrating blockchain can increase stakeholder trust and streamline operations.

Additionally, as cybersecurity issues continue to escalate, there is a need for safe, decentralized solutions, which blockchain may offer, opening up new opportunities for businesses in this field.

As these applications become more popular with both consumers and businesses, recent trends in the Japan Blockchain Service Market show an increase in interest and investment in decentralized finance (DeFi) and non-fungible tokens (NFTs).

The partnership between blockchain companies and conventional financial institutions shows how Japan's financial sector is moving significantly toward digital transformation.

Businesses are eager to use blockchain technology for smart contracts and data management, opening the door for new business models. The blockchain industry is anticipated to develop and attract more interest and investment as Japan's technical infrastructure continues to progress, resulting in a more strong and integrated economy.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Japan Blockchain Service Market Drivers

Government Initiatives and Support for Blockchain Technology

The Japanese government has been actively promoting the adoption of blockchain technology across various sectors to enhance efficiency and transparency. With the establishment of the Japan Blockchain Association, the government aims to create a favorable environment for blockchain development.

According to the Ministry of Economy, Trade, and Industry, Japan recognized the potential of blockchain to drive innovation, especially in finance and supply chain management. The government's focus on developing guidelines and support frameworks is significant, evidenced by the launch of the 'Blockchain Strategy' plan, which aims to increase blockchain adoption by 15% by 2025.

These initiatives underscore the positive impact of governmental support on the growth of the Japan Blockchain Service Market, fostering an environment conducive to technological advancement and investment.

Major companies like Sony and Mitsubishi UFJ Financial Group have already begun utilizing blockchain for various applications, demonstrating the practical impact of government-supported initiatives on enhancing the blockchain ecosystem in Japan.

Rising Demand for Transparency and Security in Transactions

In Japan, there is a growing need for transparent and secure transaction systems in various sectors, primarily driven by increased cybercrime threats and the demand for more secure financial transactions. The National Police Agency reported an increase in cybercrime incidents by approximately 20% over the past three years, prompting companies to adopt blockchain solutions to enhance security.

The Japan Blockchain Service Market is benefiting from these developments, as businesses look for reliable solutions to ensure the integrity of their transactions. Businesses such as Rakuten and GMO Internet have adopted blockchain technology, which not only secures their transactions but also builds trust with customers, highlighting the market's potential growth driven by these factors.

Expansion of Financial Technology (FinTech) Startups

The FinTech sector in Japan is experiencing rapid growth, with an increasing number of startups integrating blockchain technology to provide innovative financial solutions. According to the Financial Services Agency, the number of new FinTech enterprises has surged by over 30% annually since 2020.

These startups leverage blockchain for functionalities like payment processing, identity verification, and smart contracts, contributing significantly to the growth of the Japan Blockchain Service Market.

Notable FinTech leaders such as Liquid and bitFlyer are pioneering blockchain applications, which not only enhance operational efficiencies but also attract investments, underscoring the pivotal role of the FinTech ecosystem in expanding blockchain adoption in Japan.

Japan Blockchain Service Market Segment Insights

Blockchain Service Market Platform Insights

The Platform segment within the Japan Blockchain Service Market encompasses various technologies aimed at facilitating blockchain solutions across multiple industries. This segment serves as a backbone for a range of applications that enhance transparency, efficiency, and security in transactions.

Ripple stands out as a key player, known for its focus on enabling instantaneous cross-border payments, which significantly appeals to financial institutions in Japan looking to streamline their payment processes.

Ethereum, recognized for its robust smart contract features, supports a diverse array of decentralized applications that are gaining traction in sectors such as finance, gaming, and supply chain management.

R3, with its Corda platform, is tailored for enterprise-grade solutions and is gaining momentum among banks and financial services, as its design specifically caters to legal requirements and privacy concerns found in traditional finance.

Hyperledger, an umbrella project of open-source blockchains, promotes collaboration across industries by providing a modular architecture that facilitates the development of specific use cases, making it a significant asset for sectors like healthcare and manufacturing in Japan.

The continued investment in blockchain technology by the Japanese government and the corporate sector furthers the growth of this segment, positioning the country as a global leader in blockchain innovations. The evolution of regulations and the rise of digital transactions have created opportunities for blockchain platforms to address various challenges in these industries, enhancing overall market growth.

The Platform segment is critical as it forms the infrastructure that supports a vibrant ecosystem of decentralized technologies, making it an essential focus area for stakeholders in the Japan Blockchain Service Market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain Service Market Cloud Insights

The Cloud segment of the Japan Blockchain Service Market plays a pivotal role in the overall growth and diversification of this emerging technology sector. This segment is further classified into Private, Public, and Hybrid models, each catering to distinct market needs and offering unique advantages.

The Public Cloud is popular for its accessibility and cost-effectiveness, making blockchain solutions widely available to businesses of all sizes, while the Private Cloud offers enhanced security and control, attracting organizations that prioritize data integrity and confidentiality.

Hybrid Cloud solutions combine the best of both worlds, providing flexibility and scalability tailored to varying workloads and privacy requirements. As Japan continues to invest in digital infrastructure and innovation, driven by government initiatives promoting blockchain technology, the demand for cloud-based blockchain services is expected to expand significantly.

This growth is further fueled by the increasing need for decentralized application hosting and secure transactions in various industries, including finance, supply chain, and healthcare. The Japan Blockchain Service Market is witnessing a robust transformation prompted by these trends, indicating a significant shift towards more integrated and sophisticated cloud solutions.

Japan Blockchain Service Market Key Players and Competitive Insights

The Japan Blockchain Service Market presents a dynamic landscape characterized by rapid technological advancements, increasing governmental support, and a rising consumer interest in decentralized solutions.

The competitive insights within this market reveal a mix of established players and innovative startups striving to carve out their niche in a sector that promises significant growth potential.

Blockchain technology in Japan has gained traction across various industries, including finance, supply chain, and digital identity, prompting collaborations and developments that aim to enhance transparency, security, and efficiency.

The unique regulatory framework in Japan has made the market attractive for both domestic and international businesses, leading to a surge in the adoption of blockchain technologies across different sectors.

Coincheck stands as a prominent entity in the Japanese blockchain landscape, mainly recognized for its cryptocurrency exchange platform. Established in Japan, it has gained a substantial user base and market presence due to its user-friendly interface and commitment to security. Coincheck's strengths lie in its wide array of supported cryptocurrencies, allowing users to engage with a diverse set of digital assets.

This diversity, combined with features like easy-to-use mobile applications and robust security measures, has made Coincheck a preferred choice for consumers interested in cryptocurrency trading. The company has also positioned itself strategically to comply with Japanese regulations, enhancing its credibility and strengthening customer trust in a market that demands high accountability for financial transactions.

Soramitsu is another notable player in the Japan Blockchain Service Market, recognized for its innovative approach to blockchain solutions. The company is particularly prominent in developing decentralized applications and infrastructure projects that cater specifically to the needs of Japanese enterprises.

Soramitsu focuses on creating digital identity solutions and the development of decentralized finance platforms, positioning itself at the forefront of technological advancement. Its strengths lie in strong partnerships, allowing it to leverage expertise across different sectors while providing tailored blockchain services.

Moreover, Soramitsu's commitment to research and development has led to significant advancements, including collaborations with educational institutions and public sector organizations. By concentrating on regional market demands and navigating the regulatory environment effectively, Soramitsu has managed to establish a reputable presence in Japan's blockchain ecosystem.

Key Companies in the Japan Blockchain Service Market Include

• Coincheck
• Soramitsu
• SBI Holdings
• bitFlyer
• Mitsubishi UFJ Financial Group
• Rakuten

Japan Blockchain Service Market Developments

A significant milestone in blockchain-powered national digital currency infrastructure was reached in February 2025 when Soramitsu, in partnership with the Bank of Papua New Guinea and Japan's Ministry of Economy, Trade, and Industry (METI), successfully finished a proof-of-concept rollout in Port Moresby to pilot a CBDC called Digital Kina.

Before that, in August 2023, Soramitsu spearheaded the creation of the "Mutsumi" cross-border digital payment project, which linked Southeast Asian networks, such as Bakong in Cambodia, with Japan to encourage SME trade through remittances enabled by stablecoins.

Coincheck achieved a significant milestone in the financial exchange industry by ranking as the top cryptocurrency trading exchange in Japan based on trading volume from July to December 2024. Additionally, Coincheck Group successfully acquired Next Finance Tech on April 8, 2025, expanding its internal staking platform capabilities.

Coincheck became the first Japanese cryptocurrency exchange to go public in the U.S. market when the U.S. SEC authorized its listing on the Nasdaq in November 2024. Trading will start in December 2024 under the ticker CNCK.

These confirmed developments—Coincheck's market dominance, infrastructure expansion, and Nasdaq debut, as well as Soramitsu's CBDC inventions and trading platforms—underline Japan's developing blockchain ecosystem from late 2023 to mid-2025.

Japan Blockchain Service Market Segmentation Insights

• Blockchain Service Market Platform Outlook
  • Ripple
  • Ethereum
  • R3
  • Hyperledger
• Blockchain Service Market Cloud Outlook
  • Private
  • Public
  • Hybrid

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	134.18(USD Million)
MARKET SIZE 2024	173.46(USD Million)
MARKET SIZE 2035	2429.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	27.117% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Coincheck, Soramitsu, LayerX, Hashport, SBI Holdings, Nippon Yusen Kabushiki Kaisha, GMO Internet, bitFlyer, Mitsubishi UFJ Financial Group, DMM.com, Digital Garage, Rakuten, Akamai Technologies, Achieve Blockchain, Toyota Tsusho
SEGMENTS COVERED	Platform, Cloud
KEY MARKET OPPORTUNITIES	Financial services innovation, Supply chain transparency, Digital identity solutions, Regulatory technology advancements, Healthcare data management
KEY MARKET DYNAMICS	Regulatory framework challenges, Increasing enterprise adoption, Demand for transparency, Growth in fintech innovation, Rising cybersecurity concerns
COUNTRIES COVERED	Japan