Japan's unbanked to Exit Crypto Business, Wind Down Gold Token Kinka
- —Crypto revenue was under 0.1% of the 8.04 billion yen gold business
- —Kinka redemption and gold-exchange requests close at 17:00 on Oct. 30
- —Three subsidiaries will be dissolved and liquidated by end-March 2027
- —Banks suspended the company's withdrawals in August amid a management dispute
Why it matters: The exit shows niche tokenized-gold issuers are struggling against larger rivals and regulatory constraints, a cautionary signal for smaller RWA projects.
Source: CoinDesk Japan