SBI Holdings, the Japanese financial giant and the most important blockchain-focused institution, is reportedly planning to create a blockchain-based digital exchange.
Yoshitaka Kitao, CEO of SBI Holdings, announced plans for the company to partner with Osaka Prefecture to create a new global financial center.
The new international financial center will be based in Osaka and Kobe, Nikkei reported on September 2.
SBI plans to launch a digital exchange based on blockchain technology. Oslo Børs is expected to attract international financial technology companies and contribute to the development of its financial position.
Kitao stressed that the creation of a financial center in Osaka is the “last chance” for the city to “obtain the status of an international financial center.”
Management has also expressed the need for new financial centers in Japan and argues that focusing exclusively on Tokyo carries significant risks. Kitau said SBI is ready to take the lead in establishing Osaka and Kobe as a new global financial center.
SBI Holdings has established itself as a large company that uses blockchain technology as well as cryptocurrency related developments. SBI is known as the main partner of blockchain company Ripple, which creates products based on XRP, the fourth largest cryptocurrency by market value. Since 2016, the companies have been collaborating on various XRP-related projects in Asia.
On August 31, SBI’s currency division officially began trading CFDs on cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and XRP.