Advertisement

SBI Holdings buys out TaoTao crypto exchange in new acquisition

SBI Holdings buys out TaoTao crypto exchange in new acquisition

Quick take

1 minute read

  • SBI Holdings is now the owner of two license cryptocurrency trading platforms with its recent buyout of the TaoTao platform in Japan.
  • The official announcement was revealed on the 7th October that stated the foreign exchange for the conglomerate has now gained all control of the shares of the Japanese platform which makes it completely owned by the company.

One of the biggest online financial companies in the world, SBI Holdings is now the owner of two license cryptocurrency trading platforms with its recent buy out of the TaoTao platform in Japan.

The official announcement was revealed on the 7th of October last week that stated the foreign exchange for the online conglomerate as well as its derivatives subsidiary, SBI liquidity market, has now gained all control of the shares of the Japanese platform which makes it completely owned by the company.

With this new buyout of the TaoTao exchange, SBI now has two trading platforms relating to cryptocurrency under its wing as the company is already providing crypto trading services to its venture capital arm that specifically focuses on cryptocurrency, SBI VC trade.

According to SBI, the acquisition for the platform is going to help the company bring its expertise to provide improved services when it comes to cryptocurrency as they further go on to say:

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 [...]

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

You can share this post!

Advertisement