SBI Holdings Planning to Set Up Blockchain-Based Digital Stock Exchange
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SBI Holdings Planning to Set Up Blockchain-Based Digital Stock Exchange

September 4, 2020      Vandana Malik

SBI Holdings, one of the major Japanese financial firms, is planning to set up a digital stock exchange based on blockchain technology. Yoshitaka Kitao, CEO and President at SBI Holdings, has announced that the firm is planning to collaborate with Osaka Prefecture. This collaboration is to establish a new global financial hub. It is also revealed that this new international financial center will be located in Osaka and Kobe. 

Digital Stock Exchange by SBI Holdings to Attract Fintech Companies 

As SBI Holdings is planning to launch this digital stock exchange, it is also meant to attract global fintech companies. It will also contribute towards the development of this financial hub that will be built in Osaka. It has been mentioned by Kitao that this could be seen as the last chance for Osaka that will help it gain the status of an international financial center. 

It is also revealed that currently there is a need to create financial hubs in Japan. Kitao has mentioned that SBI Holdings is all set to work towards establishing Osaka and Kobe as a global new financial center.

SBI Foreign Exchange Arm Launches CFD Trading

It has been seen that SBI Holdings is able to become one of the major companies to embrace blockchain technology. The firm is also a key partner of the huge blockchain firm, Ripple. Since 2016, both the companies have been collaborating with each other on many different projects related to XRP. Back in December 2019, the firm was considering the option of paying the shareholders dividends in the form of XRP. A similar kind of practice is also done by its subsidiary named MorningStar. Recently, on August 31, the foreign exchange arm of the firm also launched CFD trading. This has been launched for cryptocurrencies like Bitcoin, Ether, and XRP.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.