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Japanese megabanks raise bets on fintech

Mizuho, Sumitomo Mitsui join Mitsubishi UFJ in backing country's top bitcoin exchange

TOKYO -- Two more of Japan's leading banking groups have invested in the country's largest bitcoin exchange, as big institutions rush to embrace innovations that wed finance and digital technology.

On Monday, Tokyo-based bitFlyer secured roughly 200 million yen ($1.75 million) in fresh funding from Mizuho Capital, SMBC Venture Capital and Dai-ichi Life Insurance.

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