According to Japan-based online sharing platform Nikkei Asian Review, Mitsubishi UFJ Trust and Banking in Japan is preparing to launch a service that will allow crypto holders to protect their money in case their exchange is closed or hacked.
The banking giant will keep compliant records of customers who opt for this scheme on cryptocurrency exchanges.. In case the stock market crashes or is hacked, Mitsubishi UFC will refund the losses suffered by the customers according to the records they keep.. Customers who choose to have their funds protected by Mitsubishi UFJ will have to pay a certain transaction fee to benefit from this service. thinks it’s okay to pay extra transaction fees for:
“Customers will have peace of mind knowing that their assets are managed by a trust bank.”
In 2014, hackers totaled 850 thousand Bitcoins. Gox, especially crypto money investors in Japan attach great importance to the security of the stock markets they use.. According to the article published in Nikkei, Japan’s Financial Services Authority plans to recognize cryptocurrencies as assets that can be added to the trust fund as of April 2018.
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