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FINWIRES

Gumi to Launch New Crypto Fund with Major Financial Partners

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Gumi (TYO:3903) has decided to commence operations of the crypto asset management fund, SBI Crypto Fund I, from Aug. 1, through its subsidiary, gC Labs, in partnership with SBI's (TYO:8473) SBI Financial Services.

The fund has secured investments from multiple investors, including Daiwa Securities (TYO:8601). It will operate as a co-creation vehicle with 3 billion yen in assets, according to a Tokyo bourse filing on Tuesday.

Apart from generating returns, the fund aims to bridge the web3 industry with Japanese companies while accumulating track record and data in anticipation of the potential lifting of Japan's ban on crypto asset ETFs.

The initiative brings together traditional finance expertise from SBI Financial Services and Daiwa Securities with Gumi's crypto domain knowledge to jointly research next-generation financial products.

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