Copy link
Increase text size
Decrease text size
Link copied

SBI, Boerse Stuttgart partner to foster digital asset ecosystem in Europe and Asia

Thu, 26 Dec 2019, 06:41 am UTC

Japanese financial services giant SBI Holdings has announced its plans to invest in Boerse Stuttgart’s digital asset-related subsidiaries.

In a press release dated Dec. 20, SBI said that it will invest in Boerse Stuttgart Digital Exchange GmbH and plans to invest in Boerse Stuttgart Digital Ventures GmbH.

Boerse Stuttgart Digital Exchange GmbH, a joint venture between Boerse Stuttgart GmbH, Axel Springer and finanzen.net, is the technical operator of Boerse Stuttgart Digital Exchange (BSDEX) – a trading venue for digital assets – launched In September this year. Earlier this month, BSDEX, regulated under the German Banking Act, was opened to all German investors.

Boerse Stuttgart Digital Ventures GmbH is leading Boerse Stuttgart Group’s digitization strategy. Its subsidiaries are SowaLabs GmbH, the developer of cryptocurrency trading app BISON, and blocknox GmbH, a custodian for digital assets.

"The SBI Group, including its crypto-asset trading platform and other related business operating companies, will fully make use of the collaboration with Boerse Stuttgart Group, to well-establish the actual demands of the digital asset throughout the world,” Yoshitaka Kitao, President and Representative Director of SBI Holdings, said.

SBI Group and Boerse Stuttgart Group will partner in Europe and Asia in the digital asset business. They will join forces to create a global end-to-end ecosystem for digital assets, utilizing blockchain technology.

Alexander Höptner, Chairman of the Management Board of Boerse Stuttgart GmbH, said that Asia and Europe are currently the fastest-growing markets for digital assets, adding that SBI Group is an “ideal partner” to create a global digital asset ecosystem.

“Besides the exchange of knowledge and technology, possible fields of collaboration include the cross issuance and listing of digital assets, trading and brokerage as well as the creation of the first global custody bridge,” he said.

The SBI Group has been working to establish its digital asset ecosystem from early 2016. Along with its subsidiaries, it has been backing a number of blockchain-related companies, including Ripple, Elliptic, Securitize, OwlTing, Templum, CoolBitX, and others. It has also launched its own digital asset exchange, VCTRADE.

Last month, the SBI Group supported the launch of the first Japan-Vietnam money transfer service using blockchain technology, in partnership with Ripple.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

Back to top
Copyright ⓒ TokenPost. All Rights Reserved.