Biggest Bank In Japan Mitsubishi UFJ Trust Bank Will Launch Crypto Asset Services

Aiming to revolutionize the management of cryptographic assets while complying with ever-evolving regulations, Mitsubishi UFJ Trust and Banking Corporation and Ginco Co. began their ‘Crypto Asset Trust’ initiative on March 31. The slated-for-launch novel service, intended for prior to October 2022, will enable the trust bank to offer custody services for crypto assets, with Ginco keeping token issuer records.

Under this strategic alliance, ensuring proper taxation of token issuers and facilitating reliable participation in the market from institutional investors will be part of its objectives. This accomplishment will encompass roles relating to trust tokens, such as the management that pertains to the private key aspect.

This groundbreaking endeavor carries the promise of propelling Japan into a progenitor in the field of crypto asset management, integrated with the outcomes of the relevant countrywide regulatory landscape. Signifying the strong support blockchain technology is perceived to have from the financial sector, the forward-looking figures behind this innovative collaboration between Mitsubishi UFJ Trust Bank and Gincoaim to inseparably connect each other’s endeavors.

Robert Wilson author
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