Sumitomo Mitsui Monetary Group (SMBC Group), which runs considered one of Japan’s largest banks, stated Friday it would work along with blockchain startup HashPort to develop non-fungible token (NFT) and Web3 initiatives.
See associated article: PSG sells US$220,000 NFT tickets for first Japan tour in 27 years
Quick info
- SMBC and HashPort plan to arrange what they name a token enterprise lab, which goals to experiment on token companies akin to NFTs, in keeping with the Friday assertion.
- In March, Mitsubishi UFJ Monetary Group (MUFG), Japan’s largest financial institution, teamed up with Animoca Manufacturers to “help the event of the NFT market.”
- Nevertheless, it was not all the time clean crusing. MUFG stated in February it could shut its blockchain cost enterprise attributable to gradual income.
- In November, an trade discussion board consisting of a few of Japan’s high banks launched a white paper to look at the potential for a brand new cryptocurrency backed by financial institution deposits.
See associated article: Mitsubishi UFJ ditches blockchain cost enterprise
