Japanese publicly traded company Kitahoku Spinning plans to purchase Bitcoin, issue tokens, and develop a web3 wallet
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Japanese publicly traded company Kitahoku Spinning plans to purchase Bitcoin, issue tokens, and develop a web3 wallet
According to CoinDesk, Japanese publicly listed company Kitanihon Seikei announced that its board of directors has approved the company's entry into cryptocurrency and real-world asset tokenization (RWA) businesses. The company plans to establish cryptocurrency operations as a new revenue pillar, with an official launch expected in early July 2025. Specific business activities will include holding and disclosing investment performance of cryptocurrencies such as Bitcoin, building and operating cryptocurrency mining facilities powered by renewable energy, and issuing its own tokens. The company also plans to tokenize parts of its plastic recycling operations and launch a Web3 wallet service. Kitanihon Seikei stated that regulatory developments such as the approval of spot Bitcoin ETFs in the United States and Japan's amendment to the Fund Settlement Law were key factors driving its move into the cryptocurrency sector. The new business will be operated by a newly established crypto management department within the company.
Navigating Web3 tides with focused insightsTechFlow news, May 15 — According to CoinDesk, Japanese publicly listed company Kitahoku Seikei announced that its board of directors has approved the launch of cryptocurrency and real-world asset tokenization (RWA) related businesses. The company plans to establish cryptocurrency operations as a new revenue pillar, with an official launch scheduled for early July 2025.
Specific business activities will include holding and disclosing investment performance in cryptocurrencies such as Bitcoin, building and operating cryptocurrency mining facilities powered by renewable energy, and issuing its own tokens. The company also plans to tokenize parts of its plastic recycling operations and launch a Web3 wallet service.
Kitahoku Seikei stated that regulatory developments such as the approval of spot Bitcoin ETFs in the United States and Japan's amendment to the Fund Settlement Law were key factors driving its entry into the cryptocurrency sector. These operations will be managed by a newly established cryptocurrency division within the company.
