Fukuoka Financial Group announced that it had invested in DeltaForesight, which is developing the cryptoasset-style stablecoin "JPYdf." Following the announcement, its shares rebounded sharply on the same day after three sessions.
On 25 September, Fukuoka Financial Group announced that it had invested in DeltaForesight as part of its strategy to anticipate future changes in financial structures and customer behavior accompanying advances in digital technology. The purpose and amount of the investment were not stated in the article.
DeltaForesight, the recipient of the investment, is developing the cryptoasset-style stablecoin "JPYdf," which aims to maintain a value linked to the Japanese yen. The investment is reportedly intended to build expertise in related fields through continued dialogue between the two companies.
Fukuoka Financial Group described the initiative as part of its strategic response to future changes in financial structures and customer behavior accompanying advances in digital technology, explaining that it could lead to exploration of the roles required of financial institutions and the creation of new business opportunities.
According to market information on the 25th, Fukuoka Financial Group rebounded after three sessions, with its share price trading at around ¥6,672.