Strategic Investment by Sumitomo Mitsui Financial Group Subsidiary in Hashed Venture's Blockchain Fund

SMBC Nikko Securities, a securities subsidiary of Japan's Sumitomo Mitsui Financial Group (SMFG), announced a strategic investment in the blockchain fund Hashed Venture Fund III under Hashed Venture, with the specific investment amount yet to be disclosed. It is reported that this investment may promote broader cooperation between Japan's traditional finance and the Web3 industry. There are reports that SMBC Nikko's innovation lab, Nikko Open Innovation Lab (NOIL), is advancing a project called "Proof of Japan," which aims to digitize Japanese cultural assets using NFT technology.