Blog

Toku, led by Japanese founder, raises $20m

May 9, 2023

Toku, led by Japanese founder, raises $20m
Toku Background Effect

Key Takeaways

  • Having just raised $20 million, Toku are poised to expand their services and deepen their impact on the local crypto ecosystem, while maintaining a strong presence in the global market.

Do you need an international token compensation plan?

Get started for free

The following is the english translation of an article that appeared in CoinPost

TOKYO, Japan — Toku, the leading provider of tax compliance and token compensation solutions, is doubling down on its commitment to the Japanese crypto community. With a recent $20 million funding round led by Blockchain Capital, Next Web Capital, GMJP and OrangeDAO, Toku is poised to expand its services and deepen its impact on the local crypto ecosystem, while maintaining its strong presence in the global market, with customers like Aragon, Astar, Filecoin Foundation, Gitcoin, Gnosis, Hedera Hashgraph, PleasrDAO, Protocol Labs, Teller, Safe, Storyverse, and others.

Headquartered in Tokyo, Toku's co-founder and CEO Ken O’Friel Murai was born and raised in Tokyo and is half-Japanese. Ken is a founder that is passionate about fostering the growth of the Japanese startup ecosystem and is leading by example with Toku. "Our mission is to support and empower both the global crypto community and also give back to our local community too," said O'Friel. “Japan has a rich history of innovation, and we believe the crypto sector will be no different with the right support,” added O’Friel.

As the industry continues to evolve, Toku offers cutting-edge solutions to address the unique needs of the crypto space, including distributed employment solutions, tax compliance, token payroll, token grants administration, and global employee benefits. Toku aims to help new and growth-stage crypto businesses based in Japan and accelerate their growth by hosting regular meet-ups and events. These gatherings provide a platform for local talent, startups, and enthusiasts to connect, exchange ideas, and explore new opportunities.

“Japan is my home. We seeded the idea of Toku in Tokyo and the Japanese heritage played a significant role in why we named the organization Toku. We want to give back to the local community and empower the next wave of innovation in the industry. We are dedicated to offering our suite of services to local startups and established companies, helping them navigate the complexities of token compensation and tax compliance," said O’Friel Murai.

In addition to its core services, Toku is committed to supporting the growth of the Japanese crypto community through hosting regular meet-ups and events. These gatherings provide a platform for local talent, startups, and enthusiasts to connect, exchange ideas, and explore new opportunities.

Toku's ongoing dedication to nurturing the Japanese crypto scene is a testament to its strong roots in Tokyo and its commitment to fostering innovation and growth in the industry, both locally and globally.