Gumi, the Japanese game developer behind popular titles like The Alchemist Code and Brave Frontier, is planning to add crypto to its balance sheets. The company is partnering SBI Financial Services to launch a crypto asset fund comprising of Bitcoin as well as other altcoins. The fund will be structured as a joint venture under the name SBI Crypto Fund — 51 percent of which will be owned by SBI.
The mobile game developer made the announcement this week. It said the fund will be launched at JPY 3 billion (roughly $18 million). Once created, the fund will be used for staking, rebalancing, and hedging across a diverse range of assets.
Announcing the development Gumi said its mission with this fund is to, “bridge the crypto asset market and Japanese companies through investment and provision of liquidity to, the cutting-edge areas of the Web3 industry.”
Japan is working on a regulatory framework to make crypto ETFs a part of its trading ecosystem. Regulators there are already taking steps to officially recognize digital assets as financial instruments. The potential market opening is targeted for somewhere in between 2027 and 2028.
Gumi said that since Japan is already considering foraying into the crypto ETF space, this fund will allow it to establish itself as an early adopter of cryptocurrencies.
“Participation in the Fund is aimed not merely at generating investment returns, but above all at combining the strengths of each investor to co-create next-generation financial products. Specifically, we will pursue strategic collaboration in the following areas,” the announcement noted.
Gumi is also looking to get a better understanding of Japan’s crypto regulatory framework through an accumulation track record and a joint research of next-generation financial products.
Source: Gumi
Japan could soon slash crypto taxes from 55 percent to 20 percent to make it easier for the launch of crypto ETFs.
Japan’s SBI Holdings has also said that it will be working with Solana to expand the Asian nation’s on-chain market. Under the partnership, the SBI blockchain firm — R3 — is being rebranded as SBI Solana Global.
