SBI Holdings Expands Its Crypto Business Portfolio

SBI Holdings expands its crypto business portfolio with the acquisition of 12 percent stake in Clear Markets. It is also known that the company is looking into buying up to 20 percent in the future

2 August, AtoZ Markets Japanese company SBI Holdings is reportedly planning to expand its cryptocurrency business portfolio. The company is weighing up the acquisition of a 12 percent stake in Clear Markets, according to the latest financial results report from SBI.

SBI Holdings Expands Its Crypto Business Portfolio

It is also known that the company is looking into buying up to 20 percent in the future. Clear Markets is a US electronic trading platform developer and operator that provides over-the-counter derivatives electronic trading services in the UK, US, and Japan. 

SBI’s move to acquire 12 percent of Clear Markets comes as a part of its broader effort to create a cryptocurrency derivatives trading platform that is focused on institutional investors. The platform will enable financial institutions to trade more easily on the cryptocurrency derivatives market. 

In addition, Clear Market will offer hedging for cryptocurrency swap transaction services which is “necessary for the handling of cryptocurrencies and financial instruments that use cryptocurrencies.” In the SBI report, the group has mentioned that the rising demand for cryptocurrencies and crypto derivatives will boost liquidity levels as well.

SBI Crypto Initiatives

The company did not disclose the price of the stake, but according to some of the online reports, its likely worth stands at around $9 million.

Moreover, Clear Market is looking into establishing a crypto swap trading service. As of the moment, it holds a swap execution facility (SEF) license from the US Commodity Futures Trading Commission (CFTC). The company is also an affiliate of the QUICK Corp., a subsidiary of Japan’s Nikkei Inc.

Japanese SBI has invested in over 20 cryptocurrency-related projects during the past year. It also has formally launched the public version of its crypto exchange VCTRADE earlier this July. 

Japanese SBI Holdings has also set up its wholly-owned subsidiary, the SBI Virtual Currencies, back in October 2016. This decision was taken in an attempt to launch the country’s first digital currency exchange that has support from a major financial institution.

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