SBI Holdings to create a blockchain exchange in Osaka, Japan

The financial conglomerate SBI Holdings plans to create in Japan a new international financial centre based on blockchain. This was reported by Nikkei

The offices of the blockchain exchange are expected to open in two Japanese cities — Osaka and Kobe. The new financial platform will target global fintech companies.

Local authorities will assist in creating the centre. The publication notes that SBI Holdings chief Yoshitaka Kitao described the blockchain exchange as the ‘last chance’ for Osaka to ‘gain status as an international financial centre’.

SBI Holdings is a large financial conglomerate that includes about 250 fintech companies. In 2016 the conglomerate, with its key partner Ripple, created SBI Ripple Asia, a joint venture to promote XRP in Asian financial markets.

In 2018 SBI launched the cryptocurrency exchange VCTRADE.

In June 2020, SBI Holdings announced the launch of Japan’s first cryptocurrency fund based on XRP (50%). The remainder would be Bitcoin (30%) and Ethereum (20%).

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