- SBI Holdings has invested a private amount in a New York-based digital asset startup.
- The two companies will operate in the domestic and East Asian markets and establish a joint venture in Japan under equal ownership.
- SBI Holdings and Digital Asset will work together to bring the concept of programmable money to the Japanese market through the “Smart Yen” program.
Ripple’s long-term partner at SBI Holdings has announced a strategic investment in a New York-based digital asset startup for a private amount.
According to an official announcement by the SBI Holdings team, the two companies have agreed to establish a joint venture in Japan with equal ownership to operate in the domestic and East Asian markets.
SBI and Digital Assets Collaborate on “Smart Yen” Program
A similar announcement by the Digital Asset team further explains that the company will work with SBI to promote the concept of programmable money for digital assets to the Japanese market through the newly created “Smart Yen” program. increase. Customer growth and retention. “
The “Smart Yen” program leverages Daml from Digital Asset, a platform for building and running sophisticated multi-party applications. Daml improves smart contracts and distributed ledger technology through additional features such as privacy, reliability, interoperability, and scalability. The company is also actively cooperating with major financial institutions such as the Australian Stock Exchange, Deutsche Boerse, Hong Kong Stock Exchange and Goldman Sachs.
Yoshitaka Kitao, President and CEO of SBI Holdings, further pointed out the revolutionary potential of using Daml for the “Smart Yen” program. He said:
Digital Asset has great technology and business concepts. The new cash concept “Smart Yen” (tentative name) is innovative by directly linking what is optimized for individual customer loyalty programs to deposits and fully automating the process of providing loyalty through smart contracts. It makes it possible to build a customer-oriented cash system.
We hope that the SBI Group’s digital asset-related business and digital transformation will be further accelerated by actively introducing digital asset technology.
Yuval Rooz, co-founder and CEO of Digital Asset, reiterated Mr. Kitao, saying that SBI has been a trendsetter for fintech innovation for many years and their collaboration “brings more cutting-edge technology solutions to the Japanese market.” I emphasized.