Sumitomo Mitsui Trust to Set Up Digital Asset Custody Company
The Sumitomo Mitsui Trust Holdings Inc. headquarters in Tokyo, Japan.
Photographer: Kiyoshi Ota/Bloomberg
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Sumitomo Mitsui Trust Holdings Inc. is teaming up with a Japanese crypto firm to create a trust company to manage digital assets for institutional investors.
The bank has signed a memorandum of understanding with crypto exchange operator bitbank inc. to offer custody services for public blockchain-based crypto assets, including NFTs.