According to Wu Block 123, Minna Bank, a digital bank under the Fukuoka Financial Group, has announced a basic cooperation agreement with Trek Labs Japan, the Japanese subsidiary of the cryptocurrency exchange Backpack. The agreement outlines a Bank as a Service (BaaS) model to provide banking functions such as yen deposits and withdrawals for Backpack's planned trading platform in Japan. The two companies will also explore the application of tokenized deposits and integrate Backpack's asset management services into the Minna Bank app. Currently, Trek Labs Japan is still preparing to apply for a cryptocurrency exchange license in Japan. https://wublock123.com/news/backpack-partners-japanese-digital-bank-jpy-onramp-tokenized-deposits-71870