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SMFG blockchain investment in Japan
Key Points:* Sumitomo Mitsui Financial Group invests in Hashed Venture Fund III.
The investment by Sumitomo Mitsui Financial Group’s SMBC Nikko Securities into Hashed Venture Fund III on June 5, 2025, highlights a strategic drive towards blockchain innovation in Japan. This is expected to enhance the synergy between traditional finance and the burgeoning Web3 industry, with a focus on employing blockchain for the digitization of cultural assets.
SMBC Nikko’s Strategic Move into Web3 Investments
Sumitomo Mitsui Financial Group’s SMBC Nikko Securities has taken a strategic investment step into Hashed Venture’s blockchain fund. This move underscores the company’s interest in expanding its footprint in the Web3 sector.
The investment aims to drive collaboration between Japan’s traditional finance and Web3 industries. The “Proof of Japan” project will use NFT technology to digitize cultural assets.
The market’s reaction is seeing increased interest in Japan’s blockchain initiatives. However, no major public statements from key figures have yet emerged, indicating cautious optimism.
Historical Collaborations Boost SMFG’s Blockchain Initiatives
Did you know? Japan’s finance sector has seen increasing integrations with blockchain, marked by previous collaborations between SMBC and tech providers like Fireblocks and Avalanche.
As of June 5, 2025, Ethereum (ETH) reported a market cap of 314,682,032,373.9, reflecting a 9.57% market dominance. Trading volumes hit $18,089,982,187.37, noting a 10.25% change. The current ETH price is $2,606.65, with a 24-hour dip of 1.32% (CoinMarketCap).