Overview-
- Strategic Business Innovator (SBI), the financial services of Japan, and Boerse Stuttgart Group of Germany announce their partnership.
- The partnership would be promoting the adoption of digital assets and to expand their cryptocurrency-related trade across Asia and Europe.
- The alliance of SBI and Boerse Stuttgart also aims to create a demand for digital asset demand globally.
Japanese financial services, SBI, and Germany’s Boerse Stuttgart Group have collaborated to promote the adoption of digital assets and expand the cryptocurrency trade across Asia and Europe. As a part of this collaboration, SBI will be investing an undisclosed large amount in two digital-asset focused subdivisions of the Boerse Stuttgart Group – Boerse Stuttgart Digital Exchange (BSDEX) and Boerse Stuttgart Digital Ventures. BSDEX is the cryptocurrency exchange that was launched recently in September 2019 for selected users; however, now the exchange is open to all investors based in Germany. Boerse Stuttgart Digital Ventures makes innovative business models for exchange trading and over-the-counter (OTC) trading in fungible products.
Yoshitaka Kitao, the president of SBI Holdings, says, “The highest priority upon establishing our digital asset ecosystem is to find trustable financial partners globally. The SBI Group, including its crypto-asset trading platform and other related business operating companies, willfully make use of the collaboration with Boerse Stuttgart Group, to well-establish the actual demands of the digital asset throughout the world.”
Alexander Höptner, the CEO of Boerse Stuttgart says, “Asia and Europe are the fastest-growing markets for digital assets at the moment,” and further added, “Besides the exchange of knowledge and technology, possible fields of collaboration include the cross issuance and listing of digital assets, trading and brokerage as well as the creation of the first global custody bridge.”
SBI has been working in the cryptocurrency assets and has been doing well since its launch from the year 2016, with its partnership with the blockchain payment platform Ripple and VC Trade, the cryptocurrency trading platform. Now with this collaboration with Boerse Stuttgart Group, plans to grow further to Asia and Europe as well.