International Japanese Bank SMBC will begin to expand its presence in the market by providing services to customers who want to tokenize their business.
Sumitomo Mitsui Banking Corporation (SMBC) announced that Web3 and NFT will be the main focus areas. To achieve this goal, SMBC has partnered with Hashport, a company that specializes in providing tokenization and listing solutions. Experience in the SMBC business and Hashport's technical solutions in Web3 will enable the joint venture to build a service platform.
SMBC is an international organization with 450 affiliates worldwide. However, the company will start working in the crypto-currency field from its native Japan. It is expected that the collaboration between SMBC and Hashport will result in the creation of a business token laboratory, which will be engaged in surveys, research and demonstration experiments related to the promotion of the token business.
The company's long-term goals include stimulating the distribution of tokens in Japan, as well as creating a division that offers digital storage services. However, this is not the end of the matter. In the future, the company will provide advisory services to clients wishing to introduce tokens into their business and issue NFTs.
The SMBC Group is considering issuing its own tokens in the future, taking advantage of its presence in the international banking market and an impressive customer base.
Recall that in 2019, SMBC announced that they plan to start using the Marco Polo blockchain platform.
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