Today Sumitomo Mitsui Financial Group (SMBC) announced that it plans to work with Japanese web3 startup HashPort to develop an ecosystem around Web3 and NFTs, including promoting Web3 in Japan. They also plan to work together on custody.
[NOTE: to avoid false token speculation, HashPort is a Japanese company not associated with the cross-chain HashPort token.]The two organizations will set up a Token Business Lab to collaborate on research and demonstrations and promote the token business. After that, SMBC Group plans to develop its own token business and both groups will consult enterprises that plan to issue tokens, such as NFTs.
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