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0 0 0.000638162093171652 0.000638162093171652 0 0.00638162093171663 0.00510529674537333 0.00567326100829615
Stock impact report

Metaplanet to start sponsored ADR program to woo over-the-counter U.S. investors [Yahoo! Finance]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Yahoo! Finance
The securities are designed to improve access, transparency and operational efficiency for U.S. based investors in the fourth-largest corporate holder of bitcoin (BTC). They will replace existing, unsponsored OTC trading under the MTPLF ticker, which lacked a formal deposit agreement and direct company involvement. The ADRs meet level I issuance standards, meaning they are subject to the lowest level of compliance and regulation and cannot trade on regulated exchanges. Each ADR represents one common share and settles through standard U.S. securities infrastructure. Deutsche Bank Trust Company Americas will act as depositary, with MUFG Bank serving as custodian in Japan. The program is not intended for capital raising and does not affect the company's total shares outstanding. Even though the ADRs are limited to OTC trading rather than on Nasdaq or the NYSE, they offer materially improved settlement, much broader brokerage access and significantly lower trading fees than unsponsor Show less Read more
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