Japan’s SBI Holdings Subsidiary Backs Mobile Crypto Wallet BRD Developer Breadwinner AG
Japan’s SBI’s Crypto Subsidiary Backs BRD, A Mobile Wallet
A subsidiary of the Japanese company SBI Holdings, SBI Crypto Investment, has decided to invest in a crypto mobile wallet now. The company has invested in Breadwinner AG, which has developed BRD, a mobile wallet.
Breadwinner AG is a Swiss company that develops crypto products. The investment made by SBI Crypto Investment was not disclosed, but it was a considerable amount, according to Cointelegraph Japan. BRD already operates in 170 different countries in the world and the app has reached the mark of over 1.8 million downloads when you count both Android and iOS users.
SBI, on the other hand, has a revenue of about $1.6 million USD for six months of last year.
This is not the first time that the SBI Group has invested in the crypto world. The company has already invested twice in LastRoots, a crypto exchange company.
SBI Holdings also has its own crypto exchange, which is called VcTrade. The company accepts Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH) tokens.
In related news, another subsidiary of SBI Holdings, this one based in Korea and called SBI Savings Bank, has also joined up in a partnership with a blockchain company back in September 2018. The company is Dayli Intelligence, which works with artificial intelligence (AI), but also with the blockchain technology in many projects.