Japan’s SBI Holdings Announces Investment in Digital Asset

SBI Holdings, the Japan-based financial services provider, recently announced an investment in Digital Asset, a global company headquartered in the US and establishment of a joint venture in Japan.

According to the announcement, the joint venture will be formally launched in 2022 under equal ownership and is expected to operate within the Japanese and East Asian markets.

Yoshitaka Kitao, President and Representative Director of SBI Holdings, stated:"Digital Asset has excellent technology and business concepts. A new cash concept 'Smart Yen' will make it possible to build a revolutionary customer-oriented cash system by directly linking an optimized for each individual customer loyalty program to deposits, and fully automating the process of providing loyalty through smart contracts.We expect to further accelerate the SBI Group's digital-asset related businesses and digital transformation by actively introducing Digital Asset's technology."

Yuval Rooz, Co-Founder and CEO of Digital Asset, added:"SBI has been on the front lines of fintech innovation for years. We are very honored to welcome SBI Holdings as the first Japanese investor in Digital Asset and to establish a joint venture. SBI is a great investment partner for Digital Asset, especially as we expand and strengthen our market position in Japan and across key financial hubs in Asia. We look forward to working with SBI to bring more cutting-edge technology solutions to the Japanese market."

Digital Asset is actively working with leading financial institutions and market infrastructures on some of the world's largest blockchain-related projects, including the Australian Securities Exchange, Deutsche Börse, Hong Kong Exchanges, and Goldman Sachs, among others.