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

SMBC Nikko Securities, a securities subsidiary of Sumitomo Mitsui Financial Group (SMFG), has announced a strategic investment in Hashed Venture's blockchain fund, Hashed Venture Fund III. The specific investment amount has not been disclosed yet. It is reported that this investment may promote broader cooperation between traditional Japanese finance and the Web3 industry. It is reported that the Nikko Open Innovation Lab (NOIL), an innovation laboratory under SMBC Nikko, is promoting a project called "Proof of Japan", which aims to use NFT technology to digitize Japanese cultural assets.