SBI Holdings invests in crypto-exchange again

[Paha87]

SBI Holdings, an investment division of the Japanese financial giant SBI Group, took part in a new round of investments in the cryptocurrency exchange, which is under the close attention of the financial regulator of the country.

The investment company said on Monday in its press release that it is increasing its stake in the Japanese exchange LastRoots after an initial infusion of capital in December 2017. The purpose of the latest funding, according to the statement, is to "help the exchange improve its internal business systems to become a licensed marketplace."

As previously reported, LastRoots was one of several unlicensed crypto-exchanges that were audited by the Japanese financial services Agency (FSA) within months of the Coincheck hack. In April, LastRoots received an order for business improvement from the FSA, after the Agency decided that "there are not enough measures on the platform to protect users from potential cyber threats."

In addition to the new financing, SBI Holdings reported that it will provide "in-house personnel to support LastRoots in strengthening the internal systems of risk management and the fight against money laundering".

This move follows the news that the Japan crypto-exchange SBI officially began offering trading services to the public in mid-July after receiving a license from the FSA. Thanks to this development, the SBI was one of the first crypto-exchanges in Japan to be supported by a major financial institution.

Back in March, the company SBI Holdings also invested in the Taiwanese manufacturer of hardware wallets CoolBitX, and a month later supported the Template, investing in a cryptocurrency startup $ 10 million.

Link to information resource - https://altstake.io/news/sbi-holdings-snova-investiruet-v-kriptobirghu