Japanese crypto exchange Bitbank said it will transfer all shares of its subsidiary, Japan Digital Asset Trust Preparation Co., Ltd. (JADAT), to Sumitomo Mitsui Trust Bank. Once the transfer is completed, JADAT will become a wholly owned subsidiary of the Sumitomo Mitsui Trust Group. SBI Holdings, Bitbank’s parent company, posted the same announcement on its official website. The share transfer is expected to take place on Oct. 1, while the transaction price was not disclosed. JADAT is a trust company that plans to provide custody services for cryptocurrencies, security tokens, and NFTs. The development was reported by CoinPost.
Japanese crypto exchange Bitbank said it will transfer all shares of its subsidiary, Japan Digital Asset Trust Preparation Co., Ltd. (JADAT), to Sumitomo Mitsui Trust Bank.
After the transfer is completed, JADAT will become a wholly owned subsidiary of the Sumitomo Mitsui Trust Group. SBI Holdings, Bitbank’s parent company, has published the same announcement on its official website.
Transfer scheduled for Oct. 1
The share transfer is expected to take place on Oct. 1. The transaction price was not disclosed.
JADAT’s planned business
JADAT is a trust company planning to provide custody services for cryptocurrencies, security tokens, and NFTs.
CoinPost reported the development.
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