Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank, has announced a strategic partnership with Ginco, a blockchain startup, to introduce an enterprise wallet solution and facilitate MUFG’s crypto asset trust services. This marks MUFG’s return to the cryptocurrency arena after facing regulatory challenges. MUFG’s Progmat platform has played a pivotal role in establishing MUFG’s presence within the dynamic crypto market. The bank is exploring the potential benefits for institutional investors in crypto trusts, and the recent change in Japanese tax laws, exempting companies issuing tokens from unrealized profit taxes, adds allure to crypto trusts as a viable means of holding and managing digital assets.MUFG has also convened a study group comprising nine prominent companies to explore the potential for co-designing token allocation and vesting structures tailored to institutional investors within crypto trusts.In addition to its cryptocurrency endeavors, MUFG has been actively expanding its blockchain initiatives. The bank recently invested in DataChain, a blockchain interoperability startup, and unveiled a collaboration with Progmat and NTT Data, a major player in the Japanese bond market infrastructure. This collaborative effort highlights MUFG’s dedication to developing comprehensive solutions bridging traditional financial markets with the emerging blockchain-based ecosystem.

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Information	Details
Geography	Asia
Countries	🇯🇵
Sentiment	positive
Relevance Score	8
People	None
Companies	Progmat, Mitsubishi UFJ Financial Group (MUFG), CoinCheck, Ginco, NTT Data
Currencies	None
Securities	None