RATE Group | Japan’s SBI Mulls Cryptocurrency Derivatives Platform
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Japan’s SBI Mulls Cryptocurrency Derivatives Platform

01 Aug Japan’s SBI Mulls Cryptocurrency Derivatives Platform

Posted at 22:37h in Cryptocurrency News by

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SBI has acquired a minority stake in US-based swaps trading venue Clear Markets in a deal that includes the launch of a new crypto marketplace.

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SBI Crypto Investment, the virtual currency and blockchain subsidiary of Japanese financial services giant SBI Group, has taken a 12% stake in Clear Market, a developer of digital marketplaces. This marks SBI’s latest move to expand in the crypto space, with the deal including the joint development of swaps digital coin offerings for professional investors.

The Japanese company’s crypto business is mostly retail-oriented, so the new market will add “the missing piece” to its offering, Mamoru Fujimoto, SBI head of investments in blockchain and artificial intelligence, told the Financial Times.

“As much as 50 per cent of cash trading in cryptocurrency has taken pace in Japan, so that is a nice place for us to start,” Clear Markets CEO Mark Brickell said with regard to the swaps.

Headquartered in the US state of North…

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