Japanese Finance Giant SBI Invests In Regulated ICO Platform Templum
As part of another step into the crypto space, Japan’s SBI Holdings announces an investment in regulated ICO platform Templum
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Japanese financial services giant SBI Holdings has invested in fintech company Templum, which focuses on offering regulated securities token offerings, according to a press release published yesterday, April 25.
SBI Holding’s investment concluded a $10 mln fundraising round, which Templum reportedly will use to bring in institutional and accredited investors. SBI Holding did not disclose the exact amount they invested.
Templum’s website describes the company as providing “regulatory compliant solutions for Tokenized Asset Offerings (Initial Coin Offerings as securities) and subsequent secondary trading.”
The Japanese finance company is currently leading a 61-bank consortium working on a domestic payments mobile app using Ripple’s technology.
SBI had previously announced a plan last fall to launch its own cryptocurrency exchange with Huobi, but the plans were postponed in early March in order to first improve security.
Also in March, SBI Holdings expanded further into the crypto sphere by buying 40 percent of Taiwanese cryptocurrency hardware wallet company CoolBitX.