The Japanese financial group Sumitomo Mitsui Financial Group (SMBC) is moving to explore the benefits of Web3 by issuing soulbond tokens (SBTs).
SBTs refer to digital identity tokens that represent the characteristics or reputation of a person (or entity, or a “soul.”) Such tokens are non-transferable and are designed for the decentralized society and Web3.
SMBC officially announced on Dec. 8 an initiative focused on the practical use of SBTs in partnership with the digital asset firm HashPort.
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