SBI Holdings Crypto Ltd., a wholly-owned subsidiary by Japanese conglomerate SBI Holding Ltd., announced yet another partnership with multinational firms, Northern Data AG, a German-based technology company and U.S Texas-based data centers owned by Whinstone US Inc., a data tech company.
The blockchain solutions company will provide its expertise in matters blockchain while the two multinationals create solutions on decentralized platforms. According to the announcement, SBI Crypto will be hosted across the data centers in Texas starting spring this year as one of the first enterprises.
Furthermore, the partnership looks like a deal sweetener for SBI Holdings Ltd. as the company looks to purchase a stake of Northern Data in the participatory rounds of financing. The report published on Yahoo Finance reads,
“In addition, both parties have further identified other areas of strategic development, including projects relating to blockchain technology infrastructure and joint software development and deployment.”
Speaking on the partnership, Aroosh Thillainathan, CEO of Northern Data AG, said,
“We are very pleased to have SBI as a great partner and one of the leading international financial and technology holding companies by our side.”
The CEO of SBI Crypto, Carson Smith, is just as excited at the partnership looking forward to creating solutions using blockchains with the German and American companies. He said,
“I am excited to see the results and to see a continuing strengthening of our relationship that will benefit the ecosystems we are creating.”
SBI Crypto partnership signals a rise in blockchain interest
For the past month and a half, it has been all about cryptocurrencies and their majestic growth in 2020. Bitcoin hit a yearly high of $10, 400 USD, Ethereum (ETH) is on a rather crazy uptrend to $270, growing over 50% in a fortnight, and XRP has finally broken its two-year-long bear trend. This pump in prices is setting investors’ eyes into the field as investments and partnerships across the blockchain industry on a sharp uptrend.
SBI Holdings Crypto, in particular, has partnered with a number of large global companies since it was launched in March 2019. Along with its parent firm, SBI Crypto developed a payments platform on Ripple, SBI Ripple, with a number of firms in Asia adopting the platform such as the partnership with Vietnamese commercial bank, Tien Phong Commercial Joint Stock Bank, to introduce RippleNET to its systems.
