Golden Finance reports that SMBC Nikko Securities, a securities subsidiary of Japanese financial giant Sumitomo Mitsui Financial Group (SMFG), has made new moves in the blockchain field. Announce a strategic investment in Hashed Venture Fund III, a blockchain fund under Hashed Venture. However, the specific amount of this investment has not been disclosed to the public yet.
As an important participant in the Japanese Securities industry, Sumitomo Mitsui Securities (SMBC Nikko Securities) has been actively exploring the integration of financial innovation and emerging technologies. It is affiliated with Sumitomo Mitsui Financial Group, which holds a significant position in the Japanese financial market. In recent years, with the rapid development of blockchain technology and the rise of the Web3 concept, Sumitomo Mitsui Securities has also been constantly seeking layout opportunities in related fields.
Hashed Venture is an institution with considerable influence in the field of blockchain investment. Its business layout covers multiple cities around the world such as Seoul, San Francisco and Singapore. It focuses on investing in decentralized projects and has played an active role in promoting the global application and innovative development of blockchain technology. The Hashed Venture Fund III under its wing is dedicated to discovering promising start-up projects and innovative technologies in the blockchain field. Previously, it has successfully invested in several high-profile projects and accumulated a good reputation in the industry.
This strategic investment by Sumitomo Mitsui Securities in Hashed Venture Fund III is expected to become an important opportunity for in-depth cooperation between traditional Japanese finance and the Web3 industry. It has been revealed that Nikko Open Innovation Lab (NOIL), an innovation laboratory under SMBC Nikko, is actively promoting a project named “Proof of Japan”. This project aims to digitize Japan’s rich cultural assets by leveraging NFT technology and achieve global dissemination and value enhancement of cultural assets through the unique advantages of blockchain technology.
In Japan, financial institutions are paying increasing attention to blockchain technology. Previously, the Bank of Japan has completed the proof-of-concept of its central bank digital currency (CBDC) and launched a pilot project, which indicates that Japan’s exploration in the field of digital assets is constantly deepening. Sumitomo Mitsui Securities’ investment in a blockchain fund this time is also in line with the overall development trend of fintech in Japan. By investing in Hashed Venture Fund III, Sumitomo Mitsui Securities may be able to obtain more cutting-edge blockchain technologies and project resources, providing strong support for the “Proof of Japan” project and other potential Web3 businesses.
From a global perspective, the cooperation between traditional financial institutions and the blockchain industry is gradually becoming a trend. Many internationally renowned financial institutions have ventured into the blockchain field through investment, cooperation and other means, aiming to enhance the efficiency of financial services, reduce costs and explore new business models. This move by Sumitomo Mitsui Securities is not only expected to open up new development space for itself in the blockchain field, but also may set a new model for the cooperation between the Japanese financial industry and the Web3 industry, promoting in-depth cooperation between the two sides in more fields and jointly promoting the innovation and development of financial technology. Subsequently, it is worth continuous attention to how this investment will specifically affect the business layout of both parties and what profound impact it will have on the development of the Web3 industry in Japan.
Related Topics:
