SBI Holdings in a cooperation with Sumitomo Mitsui Financial Group (SMFG) will launch a blockchain-based stock exchange in the spring of 2022. According to Nikkei, the exchange will be located in Osaka and the main goal is to compete against the Tokyo Stock Exchange.
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The exchange will reportedly be the first Japanese blockchain-based exchange to operate with digital securities. Prior to the launch, the both companies will create the operator dubbed the Osaka Digital Exchange in March this year. SBI will control 60% of the exchange, and SMFG 40%.
In December last year, SBI Holdings' financial subsidiary, SBI Financial Services, acquired a cryptocurrency trading firm called B2C2. Hence, SBI Financial Services became the first financial group to run a cryptocurrency dealing desk.
SBI Holdings' President and CEO, Yoshitaka Kitao, sais the UK-based cryptocurrency firm had "an exceptional reputation for its world-class products and services, superb technology and valuable client base."
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