Mitsubishi UFJ Trust, the group's trust bank, has already applied for relevant patents and is geared for a tentative launch in April 2018, after Japan's financial regulator recognizes bitcoin and other cryptocurrencies
as financial assets akin to securities and real estate that can be placed and secured in a trust.
Where an SWF is primarily a fund manager investing liquid
financial assets of the state (e.g. Singapore's GIC), an NWF is
akin to an investment company in charge of active corporate governance for the commercial, operational
assets of the state such
as state - owned enterprises, real estate, forests, infrastructure
as a portfolio (e.g. Singapore's Temasek).