Skip to main content

Japanese financial group SBI and SMFG cooperate to launch digital bank

The second largest bank in Japan will sign an agreement with SBI Holdings to provide digital banking services on smartphones.

As primexbt news reported on April 27, Sumitomo Mitsui Financial Group (SMFG) and SBI have taken the first steps towards a multi-million dollar deal that will conclude discussions this week, before Japan The version takes place during the Golden Week holiday.

In June, SMFG will buy a 20% stake in NeoMobile Securities, a subsidiary of SBI. By the end of this year, SBI will accept an investment from SMFG and create a new $1 billion fund to invest in digital technology companies. This new fund will seek to invest in a variety of investment areas such as financial technology, blockchain and 5G.

Close relationship with Ripple

SBI is known for its XRP cryptocurrency. Chief Executive Officer (CEO) Yoshitaka Kitao is a member of Ripple's board of directors. He also has a close friendship with Satoshi claimant Craig Wright - the company has considered paying dividends in XRP tokens.

SBI Mining Chip, another subsidiary of the Japanese financial conglomerate, started producing cryptocurrency mining equipment in 2020.

Don't miss the following article: Tron DApps Available on Samsung App Store

Japan introduces new regulations on digital assets

While the partnership between SMFG and SBI shows the two companies' interest in cryptocurrencies, cryptocurrency and digital asset exchanges in Japan will soon face many new regulatory challenges.

Laws passed by Japan's lower house of parliament last year related to the regulation of payment services, the regulation of exchanges and financial instruments will take effect from May 1. Amended from the existing law to regulate cryptocurrencies in Japan.

Comments

Post a Comment

Popular posts from this blog

Surprised the true identity of Bitcoin's father

In the last decade, the name Satoshi Nakamoto was probably one of the big unknowns for the crypto community in particular and for the world in general. That is the person who created Bitcoin and successfully “revolutionized” the primexbt exchange trading system To this day, no one knows who Satoshi Nakamoto really is. There have been many studies to investigate the true identity of this name, but everything about Satoshi has been virtually non-existent since late 2010. Regarding this name, it is assumed that this is a Japanese man who is fluent in English, as evidenced by the whitepaper sent in October 2010. However, others are not. Given that Bitcoin cannot be the product of one individual, Satoshi Nakamoto is likely a group of experienced coders and cryptographers. So the question is, why is the name “Satoshi Nakamoto” so famous? The story begins in 2008, when someone used this name to send the Bitcoin whitepaper to all the members of the network who believe in privacy, decentraliza
Post a Comment
Read more

Compare Bitcoin investment and Bitcoin trading at Primexbt

In recent months in 2021, bitcoin has broken out in value from $5,000 to $69,000, attracting a huge wave of interest from both professional and casual traders. When participating in this volatile bitcoin trend, the first thing you need to do is decide whether to trade or invest in this cryptocurrency.The suitability of these two options depends on many factors, ranging from a willingness to take risks to a long- or short-term investment strategy. To help you make the right decision, we've listed some characteristics of both below: Bitcoin Trading on primexbt It is possible to speculate on the price without actually owning it Leverage can be applied to open a position with a very small amount of money Can trade quickly without having to wait for the exchange It can find opportunities to sell and buy BitcoinsGreater short-term profit potential, while also higher risk Invest in Bitcoin Allows you to get the most out of your purchased bitcoin ownership Must make purchases through excha
Post a Comment
Read more

Bitcoin Forms a "Golden Cross" Pattern When Price Hits $7,500

Bitcoin bounced off the $7400-7500 resistance area on Thursday, with a high probability of a rally to $8000 The formation of the Golden Cross pattern predicts an imminent growth.Bitcoin has finally broken out of the ceiling that is holding back the price of the currency to enter a bull market. The coin's value surged past $7,500 on Thursday thanks to a sudden buying move that sent the price up over $704 in just 3 hours. Prices peaked at $7,775 on Coinbase before falling lower in early Asian trading on Friday. BTC was able to enter a resistance area on the chart. However, the upside movement is faltering, showing traders' anticipation for a continuation of the bull market before continuing to buy at regional tops. This could lead to a deeper drop to a lower price range. Formation of the Golden Cross pattern Bitcoin is expected to continue to increase in price, at the same time forming a Golden Cross pattern - a price model that can provide highly accurate predict
Post a Comment
Read more