TREE NEWS update: Sumitomo Mitsui Trust Bank has agreed to acquire all shares in Japan Digital Asset Trust Preparation Co. (JADAT) held by crypto exchange bitbank, making JADAT a wholly owned subsidiary, with the deal expected to close on Oct. 1. The bank said it will push for JADAT to apply for a management-type trust business license and aims to start operations as soon as possible.
Sumitomo Mitsui Trust to buy bitbank’s stake in JADAT, take full ownership
AI take
This is a notable consolidation signal: a major Japanese trust bank is absorbing the crypto-exchange side of a digital asset trust venture rather than running it as a partnership. It suggests traditional financial institutions are moving to control the trust-license pathway themselves, which matters for how regulated crypto custody and trust products take shape in Japan. The open question is whether JADAT secures the management-type trust license and how quickly operations follow.
Generated by AI for reference only.
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