Market Today

SBI Holdings Group Bought 40% of Taiwanese Crypto Hardware Wallet Company
Editorial Team

According to a press release published on March 2, the Japanese financial services group, SBI Holdings acquired 40% of Taiwanese cryptocurrency hardware wallet CoolBitX.

Towards its increasing involvement with both cryptocurrency and Blockchain industry, SBI made an undisclosed investment which transferred almost half of CoolBitX to its ownership.

CoolWallet, the current manufacturer of CoolBitX, offers a hardware wallet akin to a credit card which communicates to devices via Bluetooth.

The top-ranked SBI’s trial in technology is a separate major venture experimenting on Ripple’s technology involving around 60 mostly Japanese-based banks.

On participant in the trial, South Korea’s Woori Bank, has announced its intention to commercialize Ripple-based remittances by the end of 2018.

The company, however, has delayed the launching of its cryptocurrency exchange, announced on February 27, citing the necessity of increased security.

SBI noting its practices with others in its “virtual currency ecosystem” may lead CoolBitX move on.

“…We have been looking for security sophistication by capturing advanced technologies of external companies in addition to thorough risk management within the company, making the protection of customer assets the top priority,” the press release states, continuing:

“In the future, while considering CoolBitX’s technology utilization, we aim to further enhance security.”