Sumitomo Mitsui Trust Holdings has begun to consider establishing the first trust company to manage crypto assets in Japan in collaboration with an exchange company while the outflow of crypto assets due to unauthorized access is an issue. I understand.
According to the people concerned, Sumitomo Mitsui Trust Holdings is considering jointly with Bitbank, a cryptocurrency exchange company, to establish a trust company that manages crypto assets such as Bitcoin owned by companies and institutional investors. We have reached a basic agreement to go.
If a trust company for crypto assets is established, it is expected to be the first in Japan, and Sumitomo Mitsui Trust plans to consider investing in a trust company's preparatory company and dispatching officers.
With regard to cryptocurrency assets, the issue is how to manage cryptocurrency safely, with the outflow of 58 billion yen equivalent to 58 billion yen being leaked due to unauthorized access by a major domestic exchange company.
On the other hand, the use of crypto assets is spreading in the virtual space "Metaverse" on the Internet and online games, and both companies are using the asset management know-how of Sumitomo Mitsui Trust to improve security and cryptocurrency for companies. We would like to encourage entry into businesses that use assets.