Ripple’s Partner, SBI Digital, recently announced their partnership with the Japanese company Scrutinize. Their partnership aims to integrate the platform developed by the Japanese company and manage digital securities with their digital “sbiwallet” wallet. This partnership will allow foreign users to access the Japanese stock market more easily and quickly.
SBI Digital is a subsidiary partner of Ripple under the SBI Group Asset Holdings. As previously seen regarding the foreign supporters of Ripple and XRP, this company is currently among the major supporters of Ripple and the cryptocurrency in their bid to enter the Asian financial scene.
The SBI Holding’s CEO, Yoshitaka Kitao, is a major driver on Ripple’s BOD (board of directors) and is the driving force behind the XRP adaptation in the Asian market. Aside from Ripple, a few others have invested in SBI Digital, such as BRD, R3, and Börse.
According to their announcement, the “sbiwallet” is their bid at a custody solution for institutional investors. This wallet has MPC technology that will sign transactions while also protecting the users’ assets. Aside from this security, it also offers a product designed to meet the compliance requirements and regulations with its multi-layered multi-step authentication model. This will all be done following the anti-money laundering policy that SBI Digital Holdings is following.
Through this cooperation, its users will have a platform that will allow them to sell, manage, and issue securities in a fast and “efficient” way that also follows the regulations. Fernando Luis Basquez Kao, CEO of SBI Digital Asset Holdings, said that they are very much looking forward to being able to further drive the growth of digital solutions in Japan through the integration of the “sbiwallet” and the securitize platform.
With this, Securitize has become a part of the SBI Digital Holding’s growing ecosystem. In the past years, the company has been increasing its partnerships to provide institutional investors with multiple offerings through its digital financial ecosystem. As a registered and recognized transfer agent by the Securities and Exchange Commission (SEC), Securitize will be providing accessibility and liquidity to the US ecosystem for SBI.
Hidetoshi Kobayashi, Securitize Japanese Country Manager, had this to add about the partnership:
“This partnership will give our customers a one-stop access to the STO platform with industry-leading security and convenience. We are pleased to help develop the STO market in Japan through this partnership.”