Sumitomo Mitsui Trust Bank to Acquire All Shares of JADAT, Making It a Wholly Owned Subsidiary

Odaily News: Sumitomo Mitsui Trust Bank has announced the acquisition of all shares in Japan Digital Asset Trust Preparation Corporation (JADAT) held by cryptocurrency exchange bitbank, with the transaction expected to close on October 1. Upon completion of the deal, JADAT will become a wholly owned subsidiary of Sumitomo Mitsui Trust Bank and will apply for a managed trust business license to engage in digital asset management operations.