Japanese FinTech group SBI Holdings, joins the Blockchain Consortium R3

Not long ago, SBI Holdings, which is a financial services group currently based in Japan, got involved in a multi-million dollar investment with the popular bitcoin exchange Kraken. This represented the company’s first venture into the crypto-world, and largely thanks to its success, the financial conglomerate has just announced that they will join the Blockchain Consortium R3.

To put things better into perspective, the SBI Group is popular for having handled hundreds of various investments, and for being involved in financial services, biotechnology-related businesses and asset management.

The Blockchain Consortium R3 is ran by R3 CEV, a U.S. startup that aims to invest into the blockchain technology, and find new uses and ways to encourage quicker adoption of the system. By doing so, not only are they increasing the efficiency of the global financial system, but they are also promoting the technology, which has the potential of revolutionizing the way we deal with money and assets.

As the philosophy of the SBI group matches that of the R3 CEV, the group will now consider applying blockchain technology to some of the services currently being operated by companies under the group’s umbrella.

Based on everything that has been outlined so far, what do you personally think about this partnership? Let us know your thoughts in the comment section below.

If you liked this article follow us on Twitter@themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Source: SBI Holdings