MUFG Bank has acquired shares worth JPY 600 million from JP Universe and LOGSYS, both affiliates of TNT Lab. TNT Lab focuses on business development and aims to explore Web3 and the metaverse. MUFG Bank plans to establish a capital and business partnership with TBT Lab Group. Through this collaboration, they aim to create a joint Metaverse Economic Zone.

Services in emerging digital sectors such as gaming and the metaverse provide significant value and are expected to impact future economic growth and development. In February 2023, TBT Lab initiated the Japan Metaverse Economic Zone (JMEZ) concept by utilizing an open metaverse framework to connect metaverse and digital content.

Currently, there are ten Japanese companies, including MUFG, that have agreed to this initiative.

This capital and business collaboration aims to advance JMEZ and focus on developing financial platform functionalities such as verification, settlement, and data management necessary for establishing the economic zone.

MUFG also plans to leverage the collaboration to expand the Metaverse Economic Zone in Asia, which it views as a nearby market. The company has created a commercial banking platform that spans the entire ASEAN region.

MUFG will use this platform to build the Metaverse Economic Zone in Asia alongside TBT Lab Group and other organizations. As part of its vision, the partnership aims to contribute to economic and industrial development in Asia, leading to a broader impact on Japan's position in the digital sector.