Japan’s Mitsui Introduces Security Token Service to Sony Bank Customers

On March 7, Nissan Motor Co. introduced an innovative metaverse experience titled the "Heritage Cars & Safe Drive Studio," blending elements of automotive history with interactive safety education.Photo by Matthijs Waanders on UnsplashMarking 90 years in businessThe studio, launched to commemorate Nissan's 90th anniversary, features three iconic models from the company's past, recreated in virtual environments to reflect their respective eras. Among the showcased vehicles is the Silvia Q’s S13, renowned globally for its role in drifting culture. Users can explore this historic car from the 1980s while learning about the influence of pedestrian clothing colors on driver visibility. In another exhibit, users engage in a mini-game designed to educate on driver field-of-view and the impact of multitasking on safety. Alongside, the Skyline 2000GTX-E, famous for its presence in popular media like the Gran Turismo video game series and Fast and Furious movies, adds a touch of nostalgia and excitement, transporting users to the 1970s era. In a 1950s and 60s American diner and drive-in theater setting, the final exhibit offers a hands-on steering wheel spin exercise. These experiences aim to merge Nissan's heritage with vital safety knowledge, such as understanding the significance of pedestrian attire and the dangers of distracted driving. Developed in collaboration with Japanese university researchers, these immersive experiences are accessible through Meta Quest headsets, marking Nissan's continued exploration of virtual and augmented reality for customer engagement and education. Previous forays into the metaverseThis initiative aligns with Nissan's ongoing efforts to enhance its presence in the metaverse. It’s not the carmaker's first rodeo where the metaverse is concerned. It introduced its first virtual test drive and a virtual unveiling of its Sakura model in 2022. That same year, the company suggested it was interested in providing more in the way of virtual events, even going as far as to suggest the development of virtual customer support offices for clients. It followed that up in December 2023 with a revamp of four existing metaverse worlds, a project that also formed part of its 90th-anniversary celebrations. Nissan's latest foray into the metaverse coincides with advancements in augmented reality (AR) and virtual reality (VR) hardware. The recent launch of Apple's inaugural mixed-reality headset in February 2024 signals intensified competition among tech giants like Meta and Microsoft, who have been gradually expanding into consumer and enterprise AR/VR markets over the past decade. Broader auto industry interestNissan isn’t alone in the auto industry in taking initial steps into the metaverse. Rival Toyota has taken a different approach, pursuing an interest in creating remote workspaces for staff so that meetings can be held in the metaverse. Hyundai experimented with entering the metaverse as early as 2021. Through a partnership with Naver Z, the company offered virtual test drives of its Sonata model. Meanwhile Renault Korea has tipped its toes in the metaverse by offering consumers the ability to custom-build virtual cars on a metaverse platform. Through these metaverse updates, Nissan aims to stay at the forefront of automotive innovation, utilizing immersive experiences to engage customers and promote safety awareness in an increasingly digital world. 

Japanese Bitcoin treasury firm Metaplanet has opened a U.S. subsidiary company in Florida while also issuing 3.6 billion Japanese yen ($24.7 million) in bonds for the purpose of buying more Bitcoin.Photo by Kanchanara on UnsplashAccelerating the Bitcoin strategyIn an announcement on May 1, the company outlined that it had established Metaplanet Treasury Corporation in Miami, Florida. The firm cited the purpose of the subsidiary as a means through which it can accelerate its overriding strategy of accumulating more Bitcoin. Metaplanet CEO Simon Gerovich commented on X on the rationale behind locating the U.S. subsidiary in Florida, stating:”The reason for choosing Florida is clear: the state is rapidly emerging as a global hub for Bitcoin innovation, corporate adoption and financial liberalization.” Gerovich added that the newly formed company will enhance Metaplanet’s “around-the-clock operational capabilities across time zones.” The Metaplanet CEO sees the development as part of the firm’s evolution as a global Bitcoin treasury company.  $250 million capital raiseThe company stated that it had already established a corporate entity in the British Virgin Islands (BVI), with the U.S. addition enhancing the company’s ability “to respond to market dynamics with speed and precision.”  Metaplanet intends to raise $250 million in funding through the Miami-based entity, having launched it with initial capital of $10 million. It’s envisaged that the U.S. subsidiary can act as a vehicle to attract institutional investment.  Back in March it was reported that Metaplanet was investigating the idea of listing its stock in the U.S. At the time, Gerovich stated that the firm was “considering the best way to make Metaplanet shares more accessible to investors around the world.” As part of that process, Gerovich met with officials from the New York Stock Exchange (NYSE) and the Nasdaq.  In further U.S.-related developments, the company appointed Eric Trump, second son of U.S. President Donald Trump, to its strategic board of advisors in March. Last week, Metaplanet appointed David Bailey, CEO of Bitcoin Magazine, to its strategic board of advisors. Bond issuanceIn a separate development, Metaplanet has issued 3.6 billion Japanese yen ($24.7 million) in 0% ordinary bonds to purchase additional Bitcoin. The company used its EVO FUND as the mechanism through which it issued the bonds.  It has set out a goal of accumulating 10,000 BTC by the end of the year. Currently, the company holds 5,000 BTC. One community member believes that Metaplanet could hit this target as early as July on the basis of ongoing share dilution.Appearing on The Bitcoin Treasuries Podcast earlier this year, Metaplanet’s Director of Bitcoin Strategy, Dylan LeClair, described how prior to adopting its Bitcoin treasury strategy in 2024, the firm was a “zombie” on the Tokyo stock exchange with the pandemic having had a negative impact on the company’s fortunes.  He outlined that the company consolidated and dealt with some debt issues, but at that point it lacked a clear strategy. It then set out to replicate the success of U.S. Bitcoin treasury pioneer, Strategy (formerly MicroStrategy). On May 1 Gerovich posted on X that the company had achieved unrealized gains on Bitcoin exceeding six billion yen ($41.68 million). 

Aptos Labs, the developers behind the Aptos layer-1 blockchain, has entered the Japanese market through the acquisition of HashPalette, a blockchain network concerned with the issuance, management and distribution of non-fungible tokens (NFTs). HashPalette informed stakeholders of the development on Oct. through an X post, alongside a press release published on its behalf by Japanese public relations company PR Times. Photo by Tianshu Liu on UnsplashExpanding Asian presenceUp until now, HashPalette has been a wholly owned subsidiary of HashPort, a blockchain-related consulting and infrastructure provider based in Tokyo. This acquisition sees the project transfer to being a wholly owned subsidiary of Aptos Labs. Accordingly, this will mean that applications developed by HashPalette will be migrated onto the Aptos Network. Similarly, the Palette Chain blockchain will migrate over to Aptos. From Aptos Labs’ perspective, the acquisition enables it to expand its blockchain ecosystem in Japan and within Asia more broadly. Aptos Labs Co-Founder Mo Shaikh described the acquisition as an investment in “the talented builders and creators of the region.”  Deal pending approvals, closing conditionsWhile the parties have announced the acquisition, the deal is still subject to required approvals being granted, together with various closing conditions related to the sale being met. Addressing the need to close out the deal, HashPalette tweeted:“HashPort and Aptos Labs will work closely together in the transition and will take great care to ensure that all stakeholders, including PLT and ELF holders, are not disadvantaged by the migration.” The PLT token is HashPalette’s native token. According to the project’s whitepaper, it has utility when it comes to the payment of NFT issuance fees and node management fees relative to the Palette Chain. Additionally, it can be used to pay for NFTs issued on the Palette Chain and for subscription payments related to applications developed on top of the network. The ELF token is a crypto asset utilized within THE LAND ELF Crossing, an NFT farming game which was developed by HashPalette and issued on the Palette Chain. The game is being marketed in Japan with the assistance of Animoca Brands following a partnership earlier this year. The companies have agreed to gradually migrate NFTs which had been issued on Palette Chain, relative to the EXPO2025 digital wallet developed by HashPort, to the Aptos Network. Once that migration has been achieved, it’s envisaged that the Aptos Network will become the only blockchain associated with the EXPO2025 digital wallet. Unresolved Palette Chain issuesFrom the point of view of the development team behind HashPalette, it was outlined in the press release that the move goes beyond a simple financial transaction. It acknowledged that “Palette Chain still has many issues.”  Against that background, the team believes that in order to further accelerate the social implementation of Web3, it has “considered how to make services built on Palette Chain more scalable and usable, and to enable smoother access to the global Web3 market.” That consideration has brought the project team to the conclusion that migrating to the Aptos Network offers the best path forward. At the time of writing, Aptos’ APT token was trading at $8.93, up 12.44% over the course of 24 hours, according to CoinMarketCap data.