{"id":178576,"date":"2021-02-15T14:31:12","date_gmt":"2021-02-15T11:31:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sbi-looking-to-set-up-joint-crypto-ventures-with-foreign-firms\/"},"modified":"2021-02-15T14:31:12","modified_gmt":"2021-02-15T11:31:12","slug":"sbi-looking-to-set-up-joint-crypto-ventures-with-foreign-firms","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sbi-looking-to-set-up-joint-crypto-ventures-with-foreign-firms\/","title":{"rendered":"# SBI looking to set up joint crypto ventures with foreign firms"},"content":{"rendered":"

“# SBI looking to set up joint crypto ventures with foreign firms <\/strong>”
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Japanese financial conglomerate SBI Holdings is reportedly planning to set up a joint cryptocurrency venture with foreign financial companies.<\/p>\n

SBI CEO Yoshitaka Kitao said that the Japanese company is in talks with other financial firms to launch a crypto venture, Reuters reports<\/a> Feb. 15. The executive said that SBI currently has two potential deals.<\/p>\n

As part of the initiative, SBI is considering large-scale mergers and acquisitions. Kitao stated that such a deal would be necessary for SBI to maintain its position as a leading financial services company:<\/p>\n

\u201cTo become number one in the world, our choice is buying a leading company or creating an alliance with major global companies […] Our M&A strategy will not be something like taking minority stakes in many companies.\u201d<\/p><\/blockquote>\n

SBI\u2019s plans on the upcoming global crypto venture were app<\/a>arently pushed by major financial institutions like Tesla and Mastercard announcing their crypto-related plans last week.\u00a0<\/p>\n

\u201cInstitutional investors, mainly hedge funds, have recently started investing in cryptocurrencies […] Not just institutional investors but also Elon Musk has,\u201d Kitao said.<\/p>\n

Kitao did not specify the potential partners.\u00a0SBI did not immedia<\/a>tely respond to Cointelegraph\u2019s request for comment.<\/p>\n

In December 2020, SBI announced a joint crypto-related venture with Switzerland\u2019s principal stock exchange, SIX Swiss Exchange. As part of the initiative, SIX Digital Exchange and SBI\u2019s crypto arm SBI Digital Asset Holdings were launching a new crypto platform in Singapore.<\/p>\n