Japan’s SBI Buys 40% Stake in Taiwan Based Crypto Wallet Company

When it comes to Japan, it is no doubt that the influence they have on the financial situation in the whole world is unmatched. Being the first country that allowed Bitcoin as a cryptocurrency in bigger manners, they just prove that they mean business when it comes to innovative ways of paying and using your money.

But, this is not where they stop. Japanese financial services group known as SBI Holdings has already bought 40% of Taiwanese cryptocurrency hardware wallet company CoolBitX, according to a press release that was published recently, on March 2nd.

This has been the latest of the many actions that SBI has taken under their hands, and it has increased the involvement with both the cryptocurrency and the blockchain industries. This way, the giant has made an investment which has transferred a huge amount of CoolBitX to its ownership.

CoolBitX currently manufacturers CoolWallet as it is primarily offering- a hardware wallet that is akin to a credit card which communicates with devices usually through Bluetooth. SBI is currently spearheading a mass trial of Ripple’s technology in a huge separate venture which involves around 60 banks, the majority of them are located in Japan.

Meanwhile, the company has delayed the launch of its own cryptocurrency exchange, it has been announced on February 27th but it will be delayed due to the need for increased security. This consideration has woken up the investors in Cryptocurrency, reminding them that this still isn’t as safe as one would think. But, one participant bank, Woori Bank, a bank from South Korea, has announced it intends to commercialize Ripple-based remittances by the end of this year, proving that they will only continue to support the cryptocurrency overall!

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