On July 4, Sumitomo Mitsui Banking Corporation, a subsidiary of Sumitomo Mitsui Financial Group, announced the opening of a new business co-creation facility called "HOOPSLINK" at the Shin-Marunouchi Building in Chiyoda-ku, Tokyo. The facility aims to solve diverse and complex social issues through advanced technology and promote the re-growth of Japan's economy. Sumitomo Mitsui Bank said that in the current environment, companies must use emerging technologies such as generative AI, Web3 and cybersecurity to address various social challenges. HOOPSLINK will hold seminars and workshops on cutting-edge technologies and promote projects such as the commercialization of stablecoins and the application of augmented reality glasses.