TLDR: Key Points
- Fujitsu expands its Corporate Venture Capital fund to begin impact investing with a stake in Gojo & Company
- Mitsubishi UFJ Trust Bank and other major institutions establish the DVCC Personal Verification Subcommittee
In the sixty-fifth edition of the Japan FinTech Observer, the Financial Services Agency takes administrative actions against Mitsubishi UFJ Morgan Stanley Securities, Morgan Stanley MUFG Securities, and MUFG Bank for violations of “firewall” regulations and associate mis-appropriation of confidential client information. Here are the key highlights from the sectors covered:
Venture Capital & Private Markets
Fujitsu starts impact investing with a stake in Gojo & Company, while Soul Ventures establishes a Japan office. Sumitomo Mitsui Financial Group invests in Paper.id, and DG Daiwa Ventures backs three AI startups from Y Combinator’s Demo Day. Additionally, Keystone Partners is preparing a 100 billion yen fund to support the reduction of cross-shareholdings.
Banking
Major banks jointly establish the DVCC Personal Verification Subcommittee to explore new personal verification methods. Norinchukin Bank plans to sell foreign bond holdings, Citi launches the City Commercial Bank business in Japan, and partnerships and alliances are formed to promote loans on dating websites and through FinTechs.
Payments
Kyash expands its Corporate Remittance Service, while Infcurion’s survey highlights Japan’s cashless progress.
Capital Markets & Asset Management
TOPIX revisions continue, with a focus on liquidity, while Osaka Dejima Exchange receives approval for a Rice Index Market. Purple Trading and Betashares eye opportunities in Japan. J.P. Morgan Wealth Management comments on Japanese stocks.
Digital Assets
BitFlyer acquires FTX Japan, Coincheck sets records with its IEO, and SBINFT enables the use of the αU wallet. Nomura’s Laser Digital gains permissions in virtual assets services, and Konami Digital Entertainment moves its NFT provision solution to Avalanche.
The Last Word: Providing services to the elderly
New guidelines have been published for lifetime support service providers for the elderly, focusing on guarantorship and post-death affairs services.
