bitbank, inc., a Crypto Asset Exchange Operator, Has Signed A Memorandum Of Understanding With Sumitomo Mitsui Trust Holdings, Inc. To Establish A Trust Company Specializing In Digital Assets

TOKYO, May 24 (Bernama-BUSINESS WIRE) — bitbank, inc. (HQ: Tokyo Japan CEO: Noriyuki Hirosue) and Sumitomo Mitsui Trust Holdings, Inc. (HQ: Tokyo Japan, Director, President: Toru Takakura) have signed a memorandum of understanding with the purpose to establish “Japan Digital Asset Trust Preparatory Company, inc. *¹ “JADAT”” which will be a preparatory company for the purpose of establishing a trust company specializing in digital assets*². In the MOU, both parties agree to study the possibility of SuMi TRUST Holdings to invest in JADAT.

JADAT will get the know-how of digital asset storage management system with Japan’s most advanced and highest security level of bitbank and the know-how of trust business of SuMi TRUST Holdings – a specialized trust bank group.

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