- As per reports, the leading financial service company of Japan, SBI Holdings has planned to introduce the country’s first crypto-centered fund.
- The SBI Business Presentation Material highlighted establishing Japan’s first crypto asset fund. Scheduled to start in the summer of this year.
- As per the presentation material, almost 50% of the funds allocated to XRP. However, 25% in bitcoin and 25% in Ethereum (ETH).
As per reports, the leading financial service company of Japan, SBI Holdings has planned to introduce the country’s first crypto-centered fund. The news was revealed on Twitter by a user named @sentosumosaba, which cited the firm’s press release.
Getting through the SBI Business Presentation Material that was just released. Something NEW. Establishing Japan's first "crypto asset fund" scheduled to start summer of 2020~
Investment/storage! #XRP, Bitcoin, Ethereum pic.twitter.com/6lv3DaKsau
— CryptoEri (@sentosumosaba) June 26, 2020
The Crypto Asset Fund Scheduled To Start This Year
The user pointed out to the SBI Business Presentation Material that highlighted establishing Japan’s first crypto asset fund. Scheduled to start in the summer of this year.
Recently, the joint venture of SBI Holdings and Ripple Asia. Commonly known as SBI Ripple Asia has announced the plan of launching ODL (On-demand Liquidity) solutions in Asia this year.
During this announcement, the CEO of SBI Ripple Asia revealed that ODL will be used to convert the Japanese Yen to XRP in real-time. Thus, the Japanese people residing outside Japan such as Vietnam could quickly exchange the XRP for Vietnamese dong.
SBI to Roll out Its Own Exchange
SBI hopes to accomplish a significant level of diversification with cryptocurrencies for the investment portfolio. As digital assets hardly relate to traditional assets. Besides this, SBI also notified that the firm is going to roll out its own exchange. Thus, It is going to offer STO (Security Token Offering) by the end of 2020.
However, the firm is working on the product that it is going to offer when the exchange will go live. SBI Holdings is also a member of the STO Association established in April 2020.
Furthermore, In 2019, SBI Holdings had announced a dividend program organized to reward its investors with XRP.