Financie and Mitsubishi UFJ Trust and Banking Corporation Commence Joint study of Crypto asset business

~ Participation in joint study of crypto asset trust services and collaboration with IEO support ~

Financie, Inc.(hereinafter “Financie”) announces that it has started a joint study of IEO support and crypto asset trust services with Mitsubishi UFJ Trust and Banking Corporation (hereinafter “MUTB”).

Background and purpose of the joint study

Under the vision of ‘Empowering the next billion dreams’, Financie is developing businesses that support the formation of communities and ecosystems using tokens, such as the blockchain-based token-issuing crowdfunding service FiNANCiE, the NFT business and the IEO support business. The company is developing businesses that support the formation of communities and ecosystems that utilise tokens.

It is also the third domestic issuer of tokens (crypto assets) by IEO, issuing the crypto asset FNCT (Financie Token), which has been available on the Coincheck exchange since March 2023.

Prior to the development of Progmat, an issuance and management platform for digital assets in general, MUTB has concretised and obtained two patents for trust services for crypto assets in line with the implementation of the Payment Services Act (April 2017), which sets regulations for ‘virtual currency (at the time)’.

The amendment of the Act on Engagement in Trust Business Activities by Financial Institutions, which came into effect in October 2022, enables trust banks to provide custody services for crypto assets in Japan.

At the same time, in response to a unique market environment in Japan, where corporations that issue and hold tokens (crypto assets) themselves are subject to year-end market valuation of the tokens (crypto assets) and taxation on unrealised profits, the government decided in December 2022 to revise the Tax Reform Proposal to prevent the outflow of token issuers to overseas. In response to this, it has been decided that crypto assets held in trusts that meet certain requirements will no longer be subject to year-end market value assessment, in accordance with the government’s December 2022 General Instructions on Tax Reform and the June 2023 Circular on Legal Interpretations issued by the National Tax Agency.

In response to the steady development of the market environment, the company has been working with MUTB, which has been coordinating the provision of trust services in this area for about six years, and with more than 200 sports teams, entertainment projects and individuals using tokens through FiNANCiE, NFT business, IEO support business, etc. The aim is to create a healthy and attractive environment in Japan as a token-issuing market by jointly exploring the crypto asset business.

As part of the joint study, the company will participate in the study by MUTB and Ginco Corporation (CEO: Yuto Morikawa, hereinafter “Ginco”) on the collaboration to provide Japan’s first “crypto asset trust service” by a trust bank.

Launch of a joint study to provide the first “crypto asset trust service” by a trust bank itself in Japan.(Japanese only)

https://www.tr.mufg.jp/ippan/release/pdf_mutb/230831_1.pdf

In the medium to long term, we will also consider collaboration between the IEO support provided by the company and the crypto asset trust services of MUTBto contribute to the healthy development of the Japanese token issuance market.

Outline of joint study

[Crypto asset trust services]

• Participation in joint study on collaboration between MUTB and Ginco for the provision of crypto asset trust services, utilising the track record of token issuers.

[IEO support]

• Collaboration between our IEO support business and MUTB’s crypto asset trust services
• Joint design of allocation, betting, etc. for institutional investors

About Mitsubishi UFJ Trust and Banking Corporation

Company name: Mitsubishi UFJ Trust and Banking Corporation
President & Group CEO: Iwao Nagashima
Date of establishment: March 1927
Location: 4–5, Marunouchi 1-chome, Chiyoda-ku, Tokyo
URL: https://www.tr.mufg.jp/

About FNCT (Financie Token)

【WEBSITE】
Main page : https://fnct.xyz
Whitepaper : https://fnct.xyz/whitepaper/en

【SNS】
Twitter (JP) : https://twitter.com/Fnct_Official
Twitter (EN) : https://twitter.com/Fnct_Officialen
LINE : https://lin.ee/8M4HSQW

About Financie, Inc.

Financie, Inc. is a company that provides consecutive support for the formation of token-based communities and ecosystems, including the blockchain-based token-issuing crowdfunding service FiNANCiE, the NFT business, and the IEO support business. Currently, we have issued, sold, planned, and operated tokens for over 200 sports teams, entertainment projects, and individuals, and are aiming to establish the only Web3 platform in Japan that supports the formation and expansion of token ecosystems in a single integrated manner.

FiNANCiE https://financie.jp/
Company Name: Financie, Inc.
CEO: Hironao Kunimitsu
Incorporated in: Jan, 2019
Location: Cerulean Tower 15F 26–1 Sakuragaokacho, Shibuya-ku, Tokyo, 150–8512 Japan
Contact: https://www.corp.financie.jp/en/contact