SBI Holdings Subsidiary To Support BRD Cryptocurrency Wallet
The Japanese financial services group SBI Holdings represented by its subsidiary SBI Crypto Investment financially supported the Swiss crypto firm Breadwinner AG which developed the BRD cryptocurrency wallet, Cointelegraph Japan reports.
The participants of the deal have not yet disclosed its details. SBI Crypto Investment does not reveal the invested amount, and Breadwinner AG representatives do not give any comment to the press.
The BRD cryptocurrency wallet is used by clients from 170 countries. So far, 1.8 million users downloaded it to their devices based on Android and iOS.
It’s not the first time when SBI Holdings, directly or through its structures, takes part in the cryptocurrency industry. In August 2018, the company invested in the LastRoots crypto exchange, the work of which was suspended at that time by the Japanese Financial Services Agency (FSA) due to the consequences of the January hacking of Coincheck. In September, SBI Holdings, in partnership with the Orb and Glory Corporation companies, announced the launch of the S Coin token for mobile retail payments. In December, the SBI Holdings' Vctrade trading platform opened bitcoin, ethers, and Ripple (XRP) deposits.
The company’s profit for the second and third quarters of 2018 amounted to over 176 million yens (about $1.6 million), Cointelegraph Japan notes referring to the SBI data.
As previously reported, FSA of Japan is considering the issue of regulating the activities of unregistered companies attracting investments in the crypto sphere.