Bitbank Transfers Stake in JADAT to Mitsubishi UFJ Trust Group
Bitbank announced on September 25 that it will transfer its entire stake in Japanese Digital Asset Trust Establishment Preparation (JADAT) to Mitsubishi UFJ Trust and Banking Corporation. This move marks JADAT's transition into a subsidiary of the Mitsubishi UFJ Trust Group. The transfer amount and specific implementation timeline have not been disclosed.
JADAT is a preparatory company for establishing a trust company that aims to provide digital asset custody services, including cryptocurrencies, security tokens, stablecoins, and NFTs. Bitbank had previously agreed with Mitsubishi UFJ Trust & Banking Corporation in May 2022 to establish a dedicated trust company focused on digital assets.
Bitbank will continue to support the development of the digital asset industry through collaborations with financial institutions and businesses, leveraging its expertise in managing cryptocurrencies and other digital assets. In June, SBI Holdings announced that it would acquire Bitbank for approximately 467 billion yen as part of a plan to fully acquire the company.