SBI R3 Japan To Promote Corda Blockchain In Asia
SBI Holdings and R3 HoldCo, a developer of blockchain products, announced the creation of a joint venture to conduct business in Japan. This information was published in the press release of SBI Holdings.
The new organization is called SBI R3 Japan. The company will support and promote the Corda blockchain platform, developed by R3 specialists, propose schemes for its best use, and promote cooperation with other partners.
SBI R3 Japan's capital is estimated at over $4.5 million. SBI Holdings invested 60% of the funds, the rest was provided by the R3 consortium. It is assumed that the main business will be concentrated in the countries of the East Asian region.
Representatives of SBI Holdings state that they will continue to increase financing and expand cooperation with investment companies dealing with digital assets. Besides, attention will be paid to startups using blockchain in the field of next-generation financial technologies. Blockchain platforms have proven to be effective and profitable for customers, according to the press release. SBI R3 Japan is also responsible for providing licenses to various companies that wish to use the Corda platform in their work.
R3 blockchain consortium has more than 300 partners worldwide representing various industries. The company interacts with central banks and regulatory organizations. In the spring of 2017, SBI Holdings became the largest external shareholder of R3.
As previously reported, SBI Holdings invested in Breadwinner AG, the Swiss crypto company, which developed the BRD wallet.