The R3 innovation group has announced a partnership with Japan’s largest financial group to explore the blockchain technology.
In addition to securing a new banking partner for its USDC stablecoin, Circle said that SBI will adopt its other business offerings, providing end-to-end development, deployment, and operations platforms for building and operating Web3 apps across blockchains.
ODX said the token issuance will take place on Progmat, a robust software platform dedicated to the issuance and management of digital assets.
Zodia Custody will now offer yield on digital assets to institutional clients in addition to providing its custody services.
The company disclosed that its expansion into Singapore is not an isolated endeavor but a part of its broader global strategy.
With the SBI investment, Zodia Custody will increase its Japan presence amid increased demand for digital assets from institutional investors in the country.
Japan’s SMBC seeks to run trials for soulbound tokens as the banking giant looks to steepen its foothold in Web3.
The fund will allow the residents of Japan to get their first legitimized exposure to cryptocurrency enabling them to invest in major cryptos.
Ripple currently has a lot on the table so the date for the IPO may depend on how soon the lawsuit with the SEC is settled.
SBI is investing a whopping $30 million in the Swiss and Singapore based crypto bank Sygnum.
The founder expects that SBI Holdings will take advantage of the cryptocurrency boom to make the area its key earner.