SBI Holdings, a financial consortium giant in Japan has made an undisclosed investment in a digital security issuing platform Securitize. Although the investment figures were not made public Securitize's CEO Carlos Domingo revealed that it was a seven-figure sum.
This was not the first time for Securitize to have received a handsome investment from a financial giant, just a couple of months back the startup raised $14 million combined from Santander Bank and MUFG.
The firm is planning to use the funds raised from SBI to set up its own office in Japan and make it operational by the end of the year. Although there is a small subsidiary in place but with the funds at hand Domingo is planning to launch a small crew very soon.
“We’re going to do business there and that involves not only finding customers in Japan, but also localizing the technology and making sure you know the language for the next similar types of integrations that you might be looking at,” Domingo said.
“I think that the fact that [SBI is] putting their faith and investing in a company like us [is] signifying the move towards more adoption of security tokens,” he mentioned.
SBI and its Slew of Investment in Blockchain Firms
Japan is technologically superior to most of the countries on Earth and was among the very first ones to regulate crypto and blockchain use, giving them an upper hand in the sector. Thus it's quite obvious that the firms in the country would also like to offer their services to the emerging sector and garner a new user base.
SBI Holdings being one of the largest consortium of financial firms investing in emerging technology is proof of the importance of these techs in the near future. Prior to its investment in Securitize, the financial giants have also collaborated with the like of Ripple and R3 consortium.
Yoshitaka Kitao, the CEO of SBI Holdings made it clear that the future lies in digitization and digital securities and believes Securitize would be one of the bigger players in the industry.