The Japanese listed company Hokuriku Textile plans to hold Bitcoin, issue tokens, and develop a web3 wallet.

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According to a report by CoinDesk on May 15, Deep Tide TechFlow announced that the board of directors of the Japanese listed company, Hokuriku Textile Co., Ltd., has approved the company to engage in Crypto Assets and Real World Asset (RWA) tokenization business. The company plans to establish its Crypto Assets business as a new revenue pillar, with an official launch expected in early July 2025.

The specific business scope includes holding and disclosing investment performance in Bitcoin and other Crypto Assets, constructing and operating cryptocurrency mining facilities using renewable energy, and issuing its own tokens. The company also plans to tokenize certain physical assets from its plastic recycling business and launch Web3 wallet services.

Northern Japan Textile indicated that the approval of the U.S. Bitcoin spot ETF and the revision of Japan's Fund Settlement Act and other regulatory changes are important factors driving its entry into the Crypto Assets sector. This business will be operated by the company's newly established encryption management department.

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