As per the latest reports, it has been reported that SBI Holdings is planning to go international with respect to cryptocurrency adoption. As per sources, SBI Holdings is in the process of partnering with several financial companies from overseas. The reason behind the partnership with foreign companies is to venture through the crypto-verse alongside international investment firms.
For those who do not know about SBI Holdings, it is one of the major subsidiaries of the SBI Group that is one of the largest investment groups in Japan. The company has a strong local and international presence and has a vast number of subsidiaries covering different sectors.
Yoshitaka Kitao, who is the CEO of SBI confirmed that their firm is currently in talks with different financial companies outside of Japan. The talks are with aims to establish partnerships and launch different cryptocurrency ventures.
The announcement around the talks for cryptocurrency ventures was made by SBI on February 15, 2021. Adding to his statement, Kitao revealed that they currently have two potential deals that they are looking into.
The CEO also hinted that the partnership between the firm and the international companies would turn out to be huge. As a result of the partnership, they are looking forward to acquisitions and mergers on a very large scale.
Kitao stated that this time is extremely crucial for the entire SBI Empire. He stated that these deals would turn out to be very advantageous for SBI in order to maintain its reign and position in the financial services sector.
The company has revealed that it now aims to become the number one financial services company in the world. To achieve this goal, there are two choices that SBI currently has on the plate. The first option is to acquire huge companies with a huge presence in their respective countries or continents.
On the other hand, the company can form strong partnerships with the biggest names in different countries and continents to put its name out there in the market.
As per analysts, one of the main motivations that had led SBI to expedite the process of launching new ventures in the crypto-industry is the recent involvement of major companies from around the world.
Just a week back it was revealed that the largest electric car manufacturing company in the world, Tesla had invested in Bitcoin (BTC). The firm has reportedly invested $1.5 billion of the company’s portfolio in order to acquire a large portion of Bitcoin (BTC).
In addition to Tesla, one of the largest finance solution providers “MasterCard” also revealed that it was going to incorporate cryptocurrencies into the cards that it currently provides its customers.