Blockchain 

Elliptic Raises $23 Million in Funding Round Led by SBI Holdings

Cryptocurrency compliance company Elliptic has raised $23 million in a Series B funding round led by Japanese financial powerhouse SBI Holdings. Elliptic continues to expand in Asia According to a press release shared with Cointelegraph on Sept. 3, the funding will be used to support continued expansion into Asia, with new offices opening in Japan and Singapore.  The new investment will purportedly accelerate product development to support asset-backed cryptocurrencies such as Facebook’s Libra, Line Corporation’s LINK and central bank digital currencies. Founded in 2013, the company was established to support…

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Blockchain 

CEO of Japanese Finance Giant SBI Appointed as Ripple Labs Executive

Yoshitaka Kitao, CEO and representative director of Japanese financial services giant SBI Holdings, has been appointed as an executive of Ripple Labs Inc., Cointelegraph Japan reports on April 26. As previously reported, SBI Holdings is an active partner of Ripple via their joint venture, “SBI Ripple Asia,” which was established to promote the use of XRP in Asian financial markets back in 2016. SBI’s official announcement states that Kitao’s appointment to his new executive role at Ripple Labs will aim to “further promote blockchain and digital asset utilization at financial…

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Blockchain 

SBI Group Invests $15 Million in ‘Smart Card’ Wallet Manufacturer

‘Smart card’ crypto wallet manufacturer Tangem has received a $15 million investment from major Japanese financial services firm SBI Group, Cointelegraph auf Deutsch reports on April 24. The new investment will purportedly allow Tangem to relocate its headquarters to the ‘Crypto Valley’ of Zug, Switzerland. From Zug, Tangem want to develop new use cases for its physical smart cards that function like the hardware wallet version of banknotes. Each of these smart cards carries a fixed amount of cryptocurrency. The company intends for these smart cards to be used for…

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Blockchain 

FPT Corporation and SBI Holdings Invest $3 Million in Vietnamese Blockchain Project

Technology company FPT Corporation and financial services firm SBI Holdings Inc have jointly invested $3 million in Vietnamese blockchain startup Utop, local English language daily news outlet Viet Nam News reported on April 19. FPT Corporation and SBI Holdings Inc have reportedly signed a memorandum of understanding (MoU) to invest $3 million in joint venture Utop, a technology startup based on FPT’s enterprise blockchain platform dubbed akaChain. Utop is designed to gain and redeem loyalty points at merchants within the same network. The project will purportedly enable small businesses registered…

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Bitcoin 

SBI Delists BCH and Keeps BSV Amid Major Crypto Exchanges Delisting BSV

Japanese financial services giant SBI Holdings will delist bitcoin cash (BCH) from its virtual currency exchange in June 2019, Cointelegraph Japan reports on April 16. SBI Virtual Currencies has now officially announced its plans to delist bitcoin cash, while keeping support for bitcoin satoshi vision (BSV) — a cryptocurrency created from a hard fork of bitcoin cash. Bitcoin cash is the first hard fork of major cryptocurrency bitcoin (BTC), which was created in August 2017. In turn, bitcoin SV is a hard fork version of bitcoin cash, and is led by…

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Bitcoin 

Japan’s SBI Holdings Invests in Local Crypto Exchange Applicant FXCoin

Japanese crypto startup FXCoin revealed it has completed a third-party allotment of shares with financial services giant SBI Holdings. The development, which contributes to FXCoin’s aim of launching a crypto exchange business in the country, was reported by Cointelegraph Japan on April 15. FXCoin, which currently focuses on providing market information for investors, was founded in December 2017 by Tomoo Onishi — the former head of foreign exchange sales at Deutsche Bank. Alongside Onishi, who now serves as FXCoin’s CEO, the startup also reportedly counts Nomura, Mitsubishi UFJ Financial and…

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Bitcoin 

SBI Group Sets Up Spin-Off to Manufacture Crypto Mining Chips

Japanese financial giant SBI Group has created a dedicated subsidiary that will manufacture cryptocurrency mining chips, the company confirmed in a notice on March 22. SBI, which has launched spin-offs covering various aspects of the cryptocurrency industry, now says it wishes to expand its influence in the mining sector through the creation of SBI Mining Chip Co., Ltd. (SBIMC). The company will join industry stalwart manufacturers, chief among which is Bitmain, which released its latest product this week. “The SBI Group strongly promote [sic] on a wide range of businesses…

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Blockchain 

CEO of Japanese Finance Giant SBI Vests His Crypto Industry Hopes in Ripple and R3

Yoshitaka Kitao, CEO and representative director of Japanese financial services giant SBI Holdings, has singled out Ripple (XRP) and blockchain consortium R3 as reasons to remain optimistic about the future of the crypto industry — bear market notwithstanding. Kitao made his remarks during an interview with Japanese crypto news outlet Coin Post on Feb. 18. SBI Holdings is an active partner of Ripple via their joint venture, “SBI Ripple Asia,” established to promote the use of XRP in Asian financial markets back in 2016. In his interview with Coin Post,…

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Blockchain 

SBI Reports Financial Results, Recognizes Ripple for Cross Border Payments

Japanese finance giant SBI Holdings has released its nine-month financial report today, Jan. 31. In the report for the period ending on Dec. 31, 2018, SBI notes Ripple’s potential for cross-border payments. SBI outlines the implementation of technologies by Ripple (XRP) and blockchain consortium R3 as a major part of its strategy to enable a global standard for financial operations such as international payments and trade finance. In the section titled “Business Area Separation of Ripple and R3,” SBI featured Ripple as an entity “specializing in international remittance,” while R3…

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Blockchain 

Japanese Finance Giant SBI Holdings, Blockchain Firm R3 Officially Announce Joint Venture

Japanese financial services company SBI Holdings has officially announced a joint agreement with the United States blockchain consortium R3 to work in Japan, according to a press release published on Jan. 29. Back in December, SBI Holdings had already revealed its plans — according to an interview with R3’s CEO — to partner with software enterprise R3 to develop local use of its Corda blockchain platform, Cointelegraph reported on Dec. 6. Yesterday’s press release was an official announcement of the partnership. SBI Holdings and R3’s joint agreement aims to promote…

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