Sumitomo Mitsui Trust Bank to Acquire Full Ownership of JADAT

Sumitomo Mitsui Trust Bank has announced its decision to acquire all equity in Japan Digital Asset Trust (JADAT) currently held by the crypto exchange bitbank. The acquisition will make JADAT a wholly-owned subsidiary, with the transaction expected to close on October 1. Following the acquisition, the bank plans to pursue a trust business license for JADAT to begin digital asset management services.