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Sumitomo Mitsui Trust Securities' strategic investment in Hashed Blockchain Fund will promote cooperation between Japan's TradFi and Web3.
According to Golden Finance, SMBC Nikko Securities, a securities subsidiary of Japan’s Sumitomo Mitsui Financial Group (SMFG), announced a strategic investment in Hashed Venture Fund III, a blockchain fund under Hashed Venture, and the specific investment amount has not been disclosed. It is reported that this investment may promote broader cooperation between Japan’s traditional finance and Web3 industries, and it is reported that SMBC Nikko’s innovation lab Nikko Open Innovation Lab (NOIL) is promoting a project called “Proof of Japan”, which aims to use NFT technology to digitize Japanese cultural assets.