Fujitsu, a leading information technology (IT) company in Japan that produces computer hardware and accessories, has made a decisive step to strengthen its presence in the cryptocurrency ecosystem. This move was made in order to broaden the company’s customer base.
According to a report (1), which cites a recently filed patent by the business with the United States Patent and Trademark Office (USPTO), the corporation has intentions to begin delivering cryptocurrency custody services.
The custody of cryptocurrencies is one of the core services that the company wants to provide, along with a variety of other financial services that are situated on the boundary between the Web 3.0 environment and the traditional financial ecosystem.
The trademark application documents reveal that Fujitsu intends to apply for registration of a new mark that “consists of the stylized word FUJITSU with a horizontal s-shaped swirl over the J and I.”
This decision demonstrates the company’s goal to keep the Fujitsu name while branding itself in a manner that is more focused on providing services.
It is not unusual to discover mega-tech firms dipping their toes into the ecosystem of digital currencies.
Getting on board with cryptocurrency and the associated innovations is considered a growth strategy by many firms in the U.s., Europe, Asia, and other parts of the world.
This is because many people already view cryptocurrency and its innovations as the next phase of the internet.
In the world we live in today, businesses are jumping on the cryptocurrency bandwagon in a variety of different ways.
Others, such as Nike Inc., are filing patents to debut their inventions in the non-fungible token (NFT) and metaverse world. Others, such as MicroStrategy Incorporated, are vigorously buying Bitcoin (BTC) as the dominant resource on its income statement.
Fujitsu’s long-term goal is to provide services at the center of the We b3.0 revolution and everything else associated with it.
Additionally, the business intends to devote the new brand to accepting deposits, financing loans, cryptocurrency trading, and general financial administration.
Fujitsu has submitted a patent application that, if granted, will position the company’s diversification strategy among the most aggressive of recent times.
Fujitsu Is Fostering Crypto Innovation Within the Japanese Market
After what many people will call months of “preparing the way,” Fujitsu is now making its notable debut into the virtual currency ecosystem in a full-fledged capacity.
The Japanese company made its first transition into Web 3.0 when it introduced an accelerator program geared toward new businesses and included its partnerships in the Web 3.0 ecosystem.
The action succeeded in securing its interests, despite the increased scrutiny being placed on crypto-related services in Japan in the wake of the failure of numerous organizations focusing on digital currencies, the most prominent of which was FTX Derivatives Exchange.
Considering the severity of the collapse in the cryptocurrency ecosystem over the past year, Japanese officials are now pushing for more severe regulation; yet, this has not dissuaded companies such as Fujitsu from participating in the cryptocurrency market.
Mamoru Yanase, the Deputy Director General of the Strategy Development and Management Bureau of the Financial Services Agency, has reaffirmed that the issue in the sector is not crypto in and of itself, but rather with the “loose governance, lax internal control systems, and the utter lack of regulation and supervision.”
This comes in the midst of a call for rules that are significantly more stringent than those currently in place.
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