
Jakarta, Pintu News – Sony Bank, which is part of the Sony Financial Group in Japan, recently announced the formation of BlockBloom Inc. a wholly-owned subsidiary that will focus on developing Web3 services. The move includes digital asset management, NFTs, and blockchain infrastructure, which is expected to begin operations in the fall of 2025.
BlockBloom Inc. was established as a separate entity that enables Sony Bank to securely develop Web3 services, keeping compliance and operational risks separate from core banking activities. With an initial capital of $2 million, BlockBloom is scheduled to begin operations in the fall of 2025.
The creation of this specialized entity allows Sony Bank to introduce blockchain-based products without disrupting traditional banking operations. The formation of BlockBloom reflects the general strategy adopted by financial institutions entering the regulated digital asset market. With new regulations from Japanese regulators, banks can now offer tokenized securities, NFT services, and blockchain payments within a regulated framework.
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BlockBloom will operate under the latest regulations that allow banks to offer various blockchain-related services. These include the provision of digital wallets for cryptocurrencies and NFTs as well as facilitating the conversion of yen to digital assets. The digital asset market in Japan has shown steady growth, with NFT trading volumes reaching billions of yen and crypto adoption by retail continuing to rise.
Possible services developed by BlockBloom include NFT storage, tokenized financial instruments, and blockchain settlement networks. It may also collaborate with fintech startups to create interoperable solutions for digital wallets, NFT marketplaces, and decentralized finance platforms.
The formation of BlockBloom demonstrates a measured approach by banks in Japan in entering the Web3 space. By having a dedicated subsidiary, Sony Bank can safely test blockchain products, assess user adoption, and manage regulatory requirements without affecting core operations.
BlockBloom can utilize Sony Bank’s technology and banking expertise to collaborate with fintech partners, contributing to the growing digital finance ecosystem in Japan.
With this strategic move, Sony Bank not only strengthens its position in the financial sector but also places itself at the forefront of blockchain technology innovation. Through BlockBloom, Sony Bank hopes to integrate traditional financial services with new technologies to create more efficient and secure solutions for its customers.
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