Japan's SBI Group to invests in Boerse Stuttgart's digital assets business

Japan's SBI Group to invests in Boerse Stuttgart's digital assets business

Japan's SBI Group is to invest in Boerse Stuttgart Digital Exchange and Digital Ventures subsidiary.

The investment comes just weeks after the German retail exchange opened its digital asset trading venture BSDE, developed in collaboration in Axel Springer and finanzen.net.

The exchange's Digital Ventures division was launched in September 2017 to develop innovative business models for exchange trading and over-the-counter (OTC) trading in fungible products. Portfolio companies include digital asset custodian blockknox and Sowa Labs, developer of the cryptocurrency trading app Bison.

SBI Holdings has a sizeable interest in blockchain and cryptocurrency in its home markets, launching its own crypto mining, trading and venture investment operations in recent years.

Yoshitaka Kitao, president of SBI Holdings comments: "The highest priority upon establishing our digital asset ecosystem is to find trustable financial partners globally. 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."

Alexander Höptner of Boerse Stuttgart says the collaborative effort with SBI will include the cross issuance and listing of digital assets, trading and brokerage as well as the creation of the first global custody bridge

“Asia and Europe are the fastest growing markets for digital assets at the moment," he says. "With the SBI Group, we have found an ideal partner to push forward our vision of a highly efficient, global ecosystem along the value chain of digital assets."

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