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SBI Crypto enters into blockchain cooperation partnership with Northern Data

Fri, 14 Feb 2020, 09:46 am UTC

Blockchain infrastructure company Northern Data has announced its strategic partnership with SBI Crypto, a wholly-owned subsidiary of Japanese conglomerate SBI Holdings, on Thursday.

In a press release detailing the announcement, Northern Data AG said that it will be working with SBI Crypto, an entity dedicated to crypto mining-related operations, in the areas of applied blockchain technology, together with Whinstone US.

Under this partnership, SBI Crypto will be one of the first enterprises that will be hosted at Whinstone US’ new data center in Texas, being delivered from March 2020. Last month, reports had suggested that SBI and GMO were the first customers of the large crypto mining facility that was being built in Texas.

“We are very pleased to have SBI as a great partner and one of the leading international financial and technology holding companies by our side,” said Aroosh Thillainathan, CEO of Northern Data AG. “With its activities to date, SBI Holdings has impressively demonstrated its leadership in the emerging crypto and blockchain industry. This partnership gives us the potential to grow even faster by joining forces.”

SBI Crypto and Northern Data have already identified the other areas of strategic development that they will be working on including projects relating to blockchain technology infrastructure and joint software development and deployment. SBI Crypto is considering possible equity participation in Northern Data.

“We have been planning with Whinstone and Northern Data for the Texas mining farm since early 2019,” says Carson Smith, CEO of SBI Crypto. “I am excited to see the results and to see a continuing strengthening of our relationship that will benefit the ecosystems we are creating.”

Meanwhile, SBI Holdings has invested $20 million in OpenLegacy, a leading provider of microservice-based APIs. It said that it will leverage OpenLegacy's technology for instituting MoneyTap, a blockchain-based payment application, in Japan and across the globe.

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