SBI Holdings Owns Two Licensed Cryptocurrency Trading Platforms With TaoTao Exchange
SBI Holdings Owns Two Licensed Cryptocurrency Trading Platforms With TaoTao Exchange
October 9, 2020
SBI Holdings Owns Two Licensed Cryptocurrency Trading Platforms With TaoTao Exchange
SBI Holdings Owns Two Licensed Cryptocurrency Trading Platforms With TaoTao Exchange
October 9, 2020

SBI Holdings, Japan’s largest online financial conglomerate, now owns two licensed cryptocurrency trading platforms with its new acquisition of TaoTao exchange.

On October 7, it has been reported in an announcement that SBI’s foreign exchange and derivatives arm SBI Liquidity Market has acquired all shares of TaoTao by making it a wholly-owned subsidiary of the company.

However, formerly 40% owned by Internet giant Yahoo! Japan’s YJFX, TaoTao launched its crypto trading service in May 2019.

With the new acquisition, SBI now has two crypto trading platforms as the company is already offering crypto trading services through its crypto-focused venture capital arm, SBI VC Trade.

Operating a crypto asset exchange, SBI VC Trade has been a subsidiary of SBI Securities since July 2019.

Thus, TaoTao’s acquisition will contribute to the company’s expertise to provide better crypto-related services:

“In the future, we will make maximum use of the management resources such as knowledge of the SBI Group as a comprehensive financial group, as well as the customer base and service expertise of the crypto assets that TaoTao has cultivated so far […]”

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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