The National Agency for Perspective Projects of Uzbekistan (NAPP) has granted a license to JAPAN DXT, allowing the company to operate as a crypto depository, as per an announcement on the department's website.
With this development, JAPAN DXT becomes the third licensed crypto depository in the country, following South Korean company Lockton Hub's licensing in June 2023 and Paynet Crypto, a subsidiary of Uzpaynet, receiving its license in November of the same year.
A crypto depository serves as a legal entity providing an electronic platform and technical infrastructure for issuing and safeguarding crypto-assets, including the facilitation of initial coin offerings (ICOs).
In spring 2022, Japan DXT announced plans to launch a crypto exchange in Uzbekistan, with initial founders including Japanese companies Japan DX, Nippon Investment Operating Corp., and Number One Solutions., intending to invest over $15 mn in the venture.
Additionally, a consortium of investors formed Japan GXT to spearhead projects in agriculture and water conservation. However, the entity is now listed as liquidated in the register.
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