Huobi Group and SBI Holdings (TYO:8473) have agreed to jointly develop Global Digital Asset Markets focusing on cryptocurrency related businesses in China and the greater Asian region. Yoshitaka Kitao, chairman of SBI Holding (formerly Softbank Investment Group) and Leon Li, Chairman of Huobi Group jointly announced that a digital assets axchange will be provided by both SBI Virtual Currency and Huobi Japan in early 2018.
SBI Group is one of the largest integrated financial groups worldwide and one of largest venture capital and private equity asset organization in Asia. SBI Group says it plans to create a “new financial ecosystem based on cryptocurrency.”
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They have been developing various crypto-related business such as crypto mining, hedge fund, and more. In October 2017, SBI Virtual Currency, was authorized by Financial Services Agency Japan, to operate digital assets exchange. SBIVC is one of the first eleven companies approved to obtain digital assets financial exchange licenses.
Huobi Group was founded in 2013. After four years of steady operation, Huobi has become a leading global digital asset financial service provider in terms of technology platform, product lines, risk control system, operation and customer service. Huobi Group has served millions of customers from over 130 countries and regions in the world, and now holds trading business and operation center in Singapore, Hong Kong, South Korea, Japan, and more.
The partnership will service the diverse needs of cryptocurrency investors. Japan is already one of the leading crypto transaction points in the world. Huobi and SBI will conduct in-depth cooperation in such areas as capital and business.
In addition to setting up two subsidiaries, Huobi and SBI will mobilize technologies, knowledge, and personnel to jointly develop digital asset-related businesses in Japan and the rest of Asia. The two companies said the partnership will be a milestone for the development of the digital asset industry in Asia and the world.
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