Japanese bank Sumitomo Mitsui launches the country's first 'a-1' rated securi...
Sumitomo Mitsui has partnered with Securitize to launch Japan’s first security token that complies with the country’s Financial Instruments and Exchange Act. Japan-based bank Sumitomo Mitsui Trust Bank, or SMTB, has launched its first asset-backed securities token in partnership with Securitize on March 29. The instrument is the first security token compliant with the Financial Instruments and Exchange Act (FIEA) to launch in the Japanese Market. The token has received an “a-1 rating” from Japanese rating agency, Rating and Investment Information, Inc, suggesting the product is very likely....
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Sumitomo Mitsui Trust, one of the major banking institutions in Japan, will reportedly enter the cryptocurrency custody business. The company is entering a partnership with Bitbank, a Tokyo-based cryptocurrency exchange, to launch a new company that will focus on offering institutional-grade custody for digital assets and NFTs.
Sumitomo Mitsui Trust Bank to Enter Digital Custody Business
Sumitomo Mitsui Trust Bank, a major financial institution in Japan, has decided to enter the cryptocurrency custody business. The company announced that it will launch a digital assets custody....
The Japanese insurance provider, Mitsui Sumitomo has announced the launch of a new product that will cater to the domestic cryptocurrency market. The cryptocurrency revolution is opening up new markets for conventional businesses as well. The insurance industry is one such sector that can capitalize on the increasing demand. Mitsui Sumitomo, the Japanese insurance major has announced its plans to offer a new product exclusively for the cryptocurrency sector. Cryptocurrency exchange platforms around the world are under constant threat of being hacked. Many exchanges including Japan’s own Mt....
Morgan Stanley Tactical Value and Blockchain Capital have led a funding round for Securitize. Morgan Stanley has made its first capital investment foray into the blockchain space, co-leading a $48 million funding for Securitize.According to a release issued on Monday, the Coinbase-backed asset tokenization outfit has completed a Series B funding round that drew participation from Morgan Stanley Tactical Value-managed investment funds and Blockchain Capital.Other participants in the funding round included Sumitomo Mitsui Trust Bank (SMTB), Emin Gün Sirer’s Ava Labs, and venture capital fund....
One of Japan’s largest banks is working with IBM on a series of blockchain trials. Sumitomo Mitsui Trust Bank, Limited announced today that it is exploring applications related to finance, real estate and asset custody. Sumitomo Mitsui Trust Bank is a member of the R3 blockchain consortium, having joined the group last December. Earlier this year, the bank announced that it was partnering with several institutions in Japan, including Osaka-based Kinki University, to research applications of the technology. Today’s announcement suggests that the research has spurred the bank to begin....
The company said the move intends to cover all NFTs listed on the HARTi platform with no cost to the seller. As announced on Tuesday, Japanese NFT Platform HARTi and insurance group Mitsui Sumitomo (三井住友海上) will roll out nonfungible tokens, or NFTs, insurance for all digital artworks exhibited within the HARTi app. The insurance will attach to the NFT pieces on display by sellers free of charge, with HARTi responsible for the premium payments. Under the scheme, Mitsui Sumitomo will compensate owners of insured NFTs if their digital assets are compromised by unauthorized third-party access....