Fujitsu is notably making its full-blown debut into the digital currency ecosystem following months of what many will term, preparing the way.
Fujitsu, one of Japan’s top Information Technology (IT) companies that manufactures computer hardware and accessories has made an emphatic move to deepen its foothold in the crypto ecosystem. As reported by CoinTelegraph citing a recent patent filed by the company with the United States Patent and Trademark Office (USPTO), it has plans to start offering crypto custody services.
Crypto custody is tagged as one of the primary services it hopes to offer which will also include other financial services at the border of both Web 3.0 and the mainstream financial ecosystem.
According to the details contained in the trademark document, Fujitsu plans to register a new mark which “consists of the stylized word FUJITSU with a sideways s-shaped swirl over the J and I.” This move shows the firm’s intention to maintain the Fujitsu name but with a more service-oriented branding.
It is not uncommon to find mega-tech giants wading into the digital currency ecosystem. With many already seeing crypto and its associated innovations as the next phase of the internet, getting on board is considered a growth strategy for many corporations in the United States, Europe, Asia, and other parts of the world.
In today’s reality, companies are joining the crypto bandwagon in many different ways. While the likes of MicroStrategy Incorporated (NASDAQ: MSTR) are actively buying Bitcoin (BTC) as the dominant asset on its balance sheet, others like Nike Inc (NYSE: NKE) are filing patents to debut their own innovations in the NFT and metaverse world.
Fujitsu is aiming at services at the intersection of everything connected to the We b3.0 revolution. The company also wants to dedicate the new brand to accepting deposits, financing loans, crypto trading, and general financial management. Should the patent application be approved, the diversification strategy of Fujitsu can be termed one of the most aggressive in recent times.
Fujitsu Is Culturing Crypto Innovation in Japan
Fujitsu is notably making its full-blown debut into the digital currency ecosystem following months of what many will term, preparing the way. The Japanese company made its first-ever pivot into the Web 3.0 world when it launched an accelerator for startups and its partners in the Web 3.0 ecosystem.
The move has solidified its interests, despite growing scrutiny for crypto-related services in Japan following the collapse of several digital currency-focused companies chief of which is FTX Derivatives Exchange.
Considering the gravity of the collapse in the crypto ecosystem over the past year, Japanese regulators are now calling for more stringent regulation, however, this has not deterred the likes of Fujitsu.
Amid the call for such stringent rules, Mamoru Yanase, the Deputy Director General of the Financial Services Agency’s Strategy Development and Management Bureau has reiterated that the problem in the industry is not crypto in itself but with the “loose governance, lax internal controls, and the absence of regulation and supervision.”
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.