SBI Holdings Inc. is the largest online brokerage firm operating in Japan. The company, under the guidance of Yoshitaka Kitao, has been providing financial services to their worldwide customers since 1999. But only in the year 2018 did the company start to offer its cryptocurrency-related services to the world as well.
Since the world of cryptocurrency is seeing many more currencies making their way to the surface after the success of Bitcoin and Ethereum, the much-needed space for investment has been created, which SBI plans on cashing real soon.
Investors Wanting to Invest in Crypto and Extend their Assets
The view on cryptocurrency has largely changed, and it has passed the phase where it was considered to be a risky investment, said Kitao. Due to this very reason, investors from all around the world are looking forward to investing in crypto and possibly extending their assets.
One such step taken by Tesla’s CEO Elon Musk can be witnessed where he raised more than $1.5 billion in Bitcoin in pursuit of developing an alternative investment. The talks to invest capital into trading cryptocurrency have become more common than ever, and to that effect, many business conglomerates, institutional investors, and hedge funds have already put their fair share of investment into cryptocurrency.
SBI is Secretively in Talks with Foreign Companies
Although the motive of SBI, which is to work in partnership with foreign companies, has become clear, which specific foreign companies would get a seat at the high table is still a little unsure at the moment. The leading spokesperson from SBI has pointed that the company wants to seek joint ventures as an important part of the business in the future and generate revenue.
You can account for the success of cryptocurrency trading and how serious SBI is at the moment to make joint ventures work by the estimated pre-tax profits from 2020 that account for about $63.9 million. On another note, a question came forward for Kitao that would SBI focus on cryptocurrency business as an important source of income for the firm, to which he replied, “Certainly.” It seems evident that these mergers and joint ventures regarding cryptocurrency are going to become a thing in the future, and you just have to get ready for it when they do.