Backpack’s Japan unit signs basic agreement with Minna Bank to explore integration of crypto services
Japan digital bank Minna Bank (みんなの銀行) announced on November 12, 2026, that it had signed a “basic agreement on value co-creation through the use of financial services” with Trek Labs Japan Co., Ltd. Trek Labs Japan is the Japan unit of the group that operates the Backpack crypto trading platform and non-custodial wallet globally.
The basic agreement is premised on Trek Labs Japan obtaining registration as a crypto asset exchange operator in Japan. The two sides plan to use Minna Bank’s BaaS business to embed banking functions such as yen deposits and withdrawals into the trading platform Backpack plans to provide in Japan. Future ideas include exploring the use of tokenized deposits that Minna Bank is considering issuing, as well as integrating related investment services into the bank app.
Minna Bank belongs to Fukuoka Financial Group (FFG). Trek Labs Japan is preparing to apply for registration as a crypto asset exchange operator. Specific details of the cooperation will be announced separately. Backpack’s official account also confirmed the same day that an MOU had been signed.
Original source:
Title: Regarding the conclusion of a basic agreement on value co-creation through the use of financial services with Trek Labs Japan Co., Ltd.
Publisher: みんなの銀行 (Minna Bank)
Publication date: 2026-11-12
URL: corporate.minna-no-ginko.com/information/corporate/2026/11/12/892
Source type: company announcement
Verification status: The full announcement was read for this report, and the publication date 2026-11-12 was verified; no access restrictions
Supporting content: Supports that the two sides signed a basic agreement, that they will explore embedding banking functions such as yen deposits and withdrawals into Backpack’s platform on the premise of registration, and that tokenized deposits are under future consideration. It does not prove that registration has been completed or that the service has gone live.
ABAB AI Insight
A Japanese digital bank providing banking functions to an external platform through BaaS is one way to connect traditional financial accounts with a crypto trading entry point. Minna Bank has previously collaborated with other crypto-related parties, and this agreement with Backpack’s Japan unit focuses on embedding yen deposit and withdrawal functions rather than directly providing crypto trading or custody.
Trek Labs Japan, as Backpack Group’s Japan entity, is currently in the preparation stage for registration as a crypto asset exchange operator and has also joined the relevant industry association as a preparatory member for business operations. Completion of registration is a prerequisite for the two sides’ planned progress. The basic agreement is a framework for intentions and exploration, and specific technical integration, compliance arrangements, and service scope have not been disclosed.
Japan subjects crypto asset exchange operators to a licensing system, and deposit and withdrawal functions must comply with anti-money laundering and funds transfer rules. Embedding banking functions into a trading platform can reduce friction in users’ fund transfers between banks and exchanges, but the actual effect depends on registration progress, system integration between the two sides, and regulatory approval.
The materials currently only confirm the signing of the basic agreement and the direction of exploration, and do not provide a specific launch timeline, technical architecture, or expected user scale. Tokenized deposits are a future matter that the bank is considering, not a product that has already been issued. This cooperation is an intended link-up between a regional bank’s digital subsidiary and the Japan entity of a global crypto platform.
ABAB News · Cognitive Law
When a basic agreement is premised on obtaining regulatory registration, it only confirms an exploratory framework and not that the service has already started.
BaaS is one technical path for embedding banking deposit and withdrawal functions into an external platform and reducing fund transfer friction.
Future ideas in a company announcement do not equal a confirmed product timeline.