RATE Group | SBI Invests $9 Million in Institutional-Grade Cryptocurrency Derivatives Platform
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SBI Invests $9 Million in Institutional-Grade Cryptocurrency Derivatives Platform

02 Aug SBI Invests $9 Million in Institutional-Grade Cryptocurrency Derivatives Platform

Posted at 02:42h in Cryptocurrency News by

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institutional investor

Japanese financial services giant SBI Holdings has invested $9 million in U.S. digital marketplace architect Clear Markets to fund the latter’s creation of a cryptocurrency derivatives trading platform built for institutional investors.

Nikkei Asian Review reports that SBI Crypto Investment has obtained a 12 percent stake in Clear Markets, which is headquartered in Charlotte, NC and has branch offices in New York, London, and Tokyo. Though the terms of the deal were not disclosed, the publication states that SBI likely paid 1 billion yen ($9 million) for its minority ownership position in the company.

In funding Clear Markets, SBI aims to build a derivatives exchange that allows institutional investors to trade investment products tied to the price movements of bitcoin and other cryptoassets. Such products — which may include futures, options, and swaps — allow institutions to hedge other positions that they may have in the cryptocurrency market, reducing risk and…

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