Japanese financial conglomerate SBI Holdings has announced that it plans to create a cryptocurrency joint venture that will be one of the company’s main sources of income.
The company has been working in the crypto industry since 2018. As CryptoPotato reported back in December 2020, SBI acquired B2C2, a UK-based cryptocurrency liquidity provider. Before the B2C2 acquisition, the Japanese financial giant bought the local cryptocurrency exchange Tao Tao. SBI also launched a cryptocurrency lending service in November that allows users to borrow BTC, ETH, and XRP.
“To become number one in the world, we choose to buy a leading company or create an alliance with major global companies. Our M&A strategy will not be similar to the acquisition of minority stakes in many companies. ”
SBI’s senior management also said there are at least two deals under discussion regarding the proposed crypto joint venture business. However, Kitao did not disclose the names of possible partners.