Regarding the growing Bitcoin Cs (crypto asset) industry, the Japanese financial giant, the SBI Group is ready to prepare a venture company. The SBI Group is known as a big supporter of Ripple Labs, the publisher of XRP.
"To become number one in the world, our choice is to buy a leading company or make an alliance with a large global company," said Yoshitaka Kitao, CEO of SBI Groups today, quoted by Reuters.
Kitao stated that it is in talks with other financial companies to conduct business related to crypto assets. He said that SBI currently has two agreements, without clearly specifying which companies he refers to.
The SBI Group's grand plans are linked to the big moves of the Tesla companies which recently bought US $ 1.5 billion worth of Bitcoin, including Mastercard which integrates crypto assets on its global payment network.
Kitao, said that the investment ecosystem has changed drastically, not only investing in stocks and nothing, but crypto assets or companies related to it.
Aiming to expand its investment portfolio in crypto assets, last year SBI bought the local exchange Tao Tao and acquired a 90 percent stake in London-based B2C2.
Based on Reuters records, the pre-tax profit made by SBI from the business reached 6.7 billion yen (US $ 63.9 million) for the nine months to December 2020. That figure is the equivalent of an 83 percent increase from the same period the previous year.
