🇯🇵 Japan Web3 Weekly: August 11th, 2024 Digest #2
Welcome to Japan Web3 Weekly, your 5-minute recap of the Japanese web3 market’s pulse every Sunday! 🚀
This week’s spotlight is on the newly appointed FSA Commissioner Ito’s cautious stance on crypto ETF approvals in Japan. While domestic crypto ETF listings might still be a ways off, we’re seeing promising public-private initiatives for use case development, including METI’s Web3 project adoptions.
This Week’s Highlights:
1. 🏦 Financial Services Agency, Japan (JFSA, 金融庁) Commissioner Expresses Caution on Crypto ETFs
– Commissioner Ito: “Careful consideration needed” for crypto ETF approvals
– Legal changes required as crypto not included in “specified assets” under investment trust law
LINK🔗: https://lnkd.in/gxijcBHt
2. 🏗️ METI Adopts Web3 Projects from Japan Cryptoasset Business Association (JCBA), 株式会社NTT Digital, Rakuten
– Projects aim to build digital public goods using Web3 and blockchain
– Themes include RWA tokenization, sports rights management, content IP protection
– Implementation period until February 2025
LINK🔗: https://lnkd.in/gG6hyQTC
3. 💰 Japanese Listed Company Issues Warrants for Bitcoin Purchase
– Metaplanet (3350) to issue free warrants to all shareholders as of September 5
– Exercise price: JPY555 per warrant (August 9 closing price: JPY1190)
– Potential max fundraise: $68 million, with 85% for Bitcoin purchases
– CEO’s BVI company provided additional $1 million loan
LINK🔗: https://lnkd.in/gwDzSTmr
4. 🚚 Toshiba’s Blockchain Reduces Driver Wait Times for Electronics Retailers
– LOZI and ZEROBILLBANK JAPAN株式会社‘s “Trace Ledger” integrated with Toshiba‘s “DNCWARE Blockchain+”
– System implemented for Joshin’s delivery operations
– Average 45-minute reduction in daily driver wait time
LINK🔗: https://lnkd.in/g6FUeUYC
5. 🤝 Hakuhodo Inc. Group Forms Strategic Alliance with Ginco
– Hakuhodo Key3 and Ginco to develop comprehensive support package for global Web3 businesses
– Services include token marketing, listing support, use case expansion, B2B matching, event planning
LINK🔗: https://lnkd.in/gJGMJVVp
6. 🛡️ Sompo Partners with Ginco for Web3 Insurance Products
– Exploring new insurance products and value-added services in Web3
– Aims to leverage strengths of both companies for Web3 social implementation
LINK🔗: https://lnkd.in/g4niAmQC
That’s a wrap for this week! 🎬 Wakyodo will continue to bring you timely updates on Japan’s web3 market. Follow us for more insights and stay tuned for next week’s digest! 🔔
Photo: Takoyaki with a lot of green onions and mayonnaise, Hanadako (Osaka)
