CORRECT: Sumitomo Mitsui Trust will set up a joint venture with bitbank_inc to custody digital assets for institutions. Reporting by OKnightCrypto
The custody service will be a joint-venture between Bitbank, the largest cryptocurrency exchange in Japan, which will own 85%, and Sumitomo Mitsui Trust, which will own 15%.
Japan Digital Asset Trust will have $2.3 million in initial capital with hopes to expand to $78 million through additional investment.
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