Japanese financial giant SBI Group more than doubled the total profit of its cryptocurrency business during the fiscal year that ended in March. On Wednesday, SBI released a report on the company’s financial results, disclosing that its pre-tax crypto-powered profits during the past fiscal year amounted to 18.9 billion yen ($174 million). The amount is 10 billion yen ($92 million) higher than the total pre-tax total profit recorded over the previous fiscal year, SBI said. SBI’s crypto division features several companies, including crypto trading platform SBI VC Trade, mining arm SBI Crypto, and newly acquired crypto trading platforms like TaoTao …

SBI Crypto, the mining subsidiary of Japanese financial conglomerate SBI Holdings, has opened its mining pool to the general public. As one of the fruits of a strategic partnership between SBI and the German tech firm Northern Data AG, the pool reportedly now ranks 11th globally, according to SBI's announcement on March 19. It mines three assets, Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV), with a revenue measured in dollars per terahash per day of $0.3897, $0.3805 and $0.3519 respectively. Prior to its partnership with Northern Data AG and the Texas-based data center operator Whinstone US back in …

Morningstar, a financial information services subsidiary of Japanese financial giant SBI Group, will continue its XRP shareholder benefits program. According to an official announcement Friday, Morningstar has approved year-end shareholder benefits in the form of XRP. The new dividend payout option comes as part of the company’s year-end reward program to thank its shareholders for their continued support in addition to interim shareholder benefits. Under the program, Morningstar will provide XRP rewards of 2,500 Japanese yen ($23) units per 100 shares owned by shareholders as of March 31, 2021. The exact amount of XRP offered to shareholders will be determined …

Japanese financial conglomerate SBI Holdings is reportedly planning to set up a joint cryptocurrency venture with foreign financial companies. SBI CEO Yoshitaka Kitao said that the Japanese company is in talks with other financial firms to launch a crypto venture, Reuters reported Monda. The executive said that SBI currently has two potential deals. As part of the initiative, SBI is considering large-scale mergers and acquisitions. Kitao stated that such a deal would be necessary for SBI to maintain its position as a leading financial services company: “To become number one in the world, our choice is buying a leading company …

Japanese financial services firm SBI Group has enabled XRP lending through its cryptocurrency-related subsidiary, SBI VC Trade. According to a Feb. 4 announcement, SBI VC Trade Lending users can now earn interest by depositing their XRP holdings between 1,000 and 100,000 XRP, with the lending period lasting up to 84 days. “VC Trade Lending is a service that allows customers to rent out their crypto assets to the company and receive interest rewards according to the quantity and duration of the crypto assets,” SBI stated. The annual interest rate for lending XRP amounts to 0.1% with taxes included, the announcement …

Japanese finance group SBI Holdings is building a digital stock exchange in collaboration with Sumitomo Mitsui Financial Group, or SMFG. According to a Nikkei report Thursday, the new digital securities exchange is expected to be the first Japanese exchange trading digital stocks using blockchain technology. The companies are reportedly planning to roll out the exchange in Osaka in spring 2020, while the platform is expected to start handling digital securities in 2023. In order to launch the exchange, SBI and SMFG will set up an operator, Osaka Digital Exchange, or ODX. SBI will have a 60% stake in ODX, while …

According to research by Messari, the top three online brokerage firms in Japan are experiencing surging revenue from their cryptocurrency exchange services. In its Asian Crypto Landscape report, Messari noted the operating revenue and net worth of exchange platforms operated by Japan’s top securities brokers is quickly catching up to that of their crypto-native rivals. Messari researcher Mira Christanto tweeted that Japan’s three-largest brokers by customer deposits — SBI, Rakuten, and Monex — all operate crypto exchange platforms. Christanto also noted that many large asset managers are lobbying Japanese lawmakers to allow them to offer expanded cryptocurrency services and products, …

Japanese financial giant SBI has completed another cryptocurrency-related acquisition in a move to bring more adoption to the industry. SBI Financial Services, a subsidiary of SBI Holdings, has acquired United Kingdom-based crypto trading firm B2C2. According to an official Dec. 16 announcement, SBI has purchased a 90% stake in B2C2, making it a subsidiary. The acquisition was completed on Dec. 15, the announcement notes. With the new acquisition, both SBI and B2C2 intend to bring more trading opportunities for mainstream financial firms looking to invest in crypto. Yoshitaka Kitao, president and CEO of SBI Holdings, said that B2C2’s vision and …

Switzerland’s principal stock exchange, SIX Swiss Exchange, and Japanese financial giant SBI Holdings have announced a joint cryptocurrency-related venture. At the Singapore Fintech Festival on Dec. 8, the firms' digital asset-related subsidiaries, SIX Digital Exchange and SBI Digital Asset Holdings, announced that they are launching a new platform in Singapore. The venture will target regulated institutional clients, implementing technologies and market expertise from both SBI and SIX. The platform will include a wide range of services like issuing, listing, trading, CSD infrastructure and custody of digital assets and cryptocurrencies, as well as regulated digital asset securities. The platform is expected …

Japanese financial giant SBI Group is introducing a cryptocurrency lending service through its crypto-related subsidiary, SBI VC Trade. According to an official announcement on Nov. 24, the new crypto lending platform will allow users to lend their crypto to SBI and earn interest at a rate of 1% with taxes included. The new service, dubbed VC Trade Lending, will initially support the major cryptocurrency Bitcoin (BTC), with SBI further planning to add support for Ether (ETH) and XRP. The minimum lending amount is 0.1 BTC, or $1,840 at publishing time, while the maximum amount is capped at 5 BTC, or …

Japanese financial giant SBI Holdings CEO Yoshitaka Kitao said that Japan is the most likely country Ripple will relocate to, should it leave the United States. At an Oct. 28 press briefing, Kitao stated that the blockchain-based payments firm “has made Japan the most promising candidate” for its new headquarters if Ripple makes good on its threats to move its San Francisco offices. SBI Holdings is a Ripple investor, while Kitao sits on the firm’s board of directors. Both Ripple co-founder Chris Larsen and CEO Brad Garlinghouse have expressed frustration at the lack of regulatory clarity in the United States. …

A high-profile gamer is joining SBI Holdings’ gaming arm, signing a contract to receive his salary in major cryptocurrency XRP. Kengo “Ken” Suzuki, a professional player of crossover action fighting game Super Smash Bros. Ultimate, or SSBU, has signed a contract with SBI e-Sports, the gaming arm of Japanese financial giant SBI Holdings. Ken is also considered to be the world’s best Sonic player. According to an official announcement posted by SBI on Oct. 15, Ken will now be part of SBI e-Sports’ newly established SSBU division. The player will receive his annual salary in XRP instead of Japanese yen …