Copy link
Increase text size
Decrease text size
Link copied

SBI Holdings expands partnership with blockchain startup R3 to establish new joint venture company

Tue, 29 Jan 2019, 09:18 am UTC

Japanese financial services giant SBI Holdings has announced that it has signed a contract with enterprise blockchain software firm R3 to establish a joint venture company.

The plan to establish the joint venture was first reported by Nikkei last month. The move comes as the SBI Group seeks to enhance the digital asset ecosystem by expanding its investments and partnerships with venture companies related to digital asset platforms.

SBI Holdings became a member of the R3-led blockchain consortium back in 2016. The consortium has grown to more than 300 members from both the private and public sectors that develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.

In its official release, SBI Holdings said that it became the largest outside shareholder of R3 through its investment in May 2017. The SBI Group has been providing training programs for Corda in Japan.

The new venture, called SBI R3 Japan Co., Ltd., will “support provision and introduction of the Corda license, arrange schemes for its actual use beforehand, as well as promote collaboration with overseas offices of R3 and other Corda partners,” the announcement reads.

The new company also intends to develop its businesses in the Eastern Asian Region.

In 2016, SBI Holdings had formed another joined venture company with blockchain startup Ripple. Called SBI Ripple Asia, the company completed its registration with the Kanto Local Finance Bureau as a licensed agent for handling electronic payments in September 2018.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $17,288.50 (-2.88%)
  • Ethereum (ETH) $527.08 (-0.34%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $273.03 (-4.91%)
  • Chainlink (LINK) $12.71 (+0.77%)
  • Bitcoin (BTC) $17,288.50 (-2.88%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.