SBI Is Going To Launch The Cryptocurrency Market Derivatives
SBI Crypto Investment, a subsidiary of SBI Holdings,a financial services company group based in Tokyo, Japan, yesterday (30 July 2018), purchased a 12 percent stake in the Clear Markets, a leading innovator, developer, and operator of electronic marketplaces and trading technologies. Although the details of the deal were not published, the deal, according to the reports, cost $ 9 million (1 billion yen).
Clear Markets, located in Charlotte, North Carolina, USA, is engaged in the development and operation of electronic trading platforms, as well as trading technologies. Through making the investments in the company, SBI Crypto Investment expects to establish a derivative trading platform that should draw the attention of the institutional investors.
The fact that virtual currencies are one of the most interesting assets in the current market cannot be argued. Nevertheless, their variability is an important deterrent and impedes their spread. In June and July 2018, Bitcoin fell by 30 and grew by another 30 percent.
Tokyo Financial company makes a significant investment in cryptocurrency with a market share of Bitflyer and CoolBitX. The first is a well-known platform for the exchange of cryptocurrencies, and the second-the developer of wallets. In addition to its stake in Bitflyer, SBI also owns a cryptocurrency exchange platform-the virtual currencies of SBI.