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Sumitomo Mitsui Monetary Group (SMBC Group), which runs considered one of Japan’s largest banks, mentioned Friday it can 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 equivalent to NFTs, in accordance 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.”
- Nonetheless, it was not all the time easy crusing. MUFG mentioned in February it could shut its blockchain fee enterprise on account of sluggish earnings.
- In November, an trade discussion board consisting of a few of Japan’s high banks launched a white paper to look at the potential of a brand new cryptocurrency backed by financial institution deposits.
See associated article: Mitsubishi UFJ ditches blockchain fee enterprise
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