SBI Group Develops a Platform for Trading Crypto Derivatives

August 3, 2018

One of the leaders of the Japanese banking sector SBI Holdings has reportedly invested 1 billion yen ($9 million) in a project for the development of a cryptocurrency trading platform for institutional investors.

According to local reports, an SBI subdivision called SBI Crypto Investment, the goal of which is investing in the crypto industry, has acquired a 12% stake in the US company Clear Markets and will probably extend its share to 20% soon. 

It is reported, that the decision of SBI is a part of the agreement between companies to jointly develop a trading platform for institutional investors, that would allow customers to trade cryptocurrency futures, options, and swaps.

Details of the deal are undisclosed, but it is believed that the sum is 1 billion yen. 

Clear Markets is subsidiary of QUICK Corp., a company that belongs to Nikkei Inc. It develops solutions for online trading of derivatives in the US, Japan, and the UK.

Earlier this year, SBI has opened their own cryptocurrency trading platform VCTRADE for public.

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