Amidst increased efforts to regularize the use of cryptocurrencies in the main-stream, news of a new alliance has become the talk of the town. German’s first regulated crypto stock exchange operator Boerse Stuttgart Group and Japan’s huge financial company SBI have partnered. This partnership has been linked with the aim of penetration into Asia and Europe. As per the recent finding, SBI will invest an unspecified amount in Boerse Stuttgart’s venture arm that does crypto-related business.
Japanese financial giant will put its money in two of Boerse Stuttgart’s subsidiaries: Boerse Stuttgart Digital Exchange and Boerse Stuttgart Digital Ventures. SBI Holdings President Yoshitaka Kitao said, “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 Chairman of the Management Board of Boerse Stuttgart, said, “Asia and Europe are the fastest-growing markets for digital assets at the moment … 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.”
It should be noted that SBI is no newbie in the crypto field. It is playing a major role since 2016. It currently is operating a crypto exchange, a crypto mining firm, and a crypto-miner manufacturing unit. It also looks prominent in the industry by investing in many crypto and blockchain-based start-ups.
On the other hand, Boerse Stuttgart Group has been playing an active role in the crypto industry. In September this year, it launched Boerse Stuttgart Digital Exchange, which it boasts as Germany’s first trading platform that is completely regulated.