Japanese Finance Giant SBI Invests In Regulated ICO Platform TemplumApril 26, 2018 9:48 pm
CoinTelegraph reported Thursday SBI Holdings, the Japanese financial services giant, has invested in fintech company Templum, which focuses on offering regulated securities token offerings, a news release published Wednesday said.
According to the report, SBI Holding’s investment concluded a $10-million fundraising round, which Templum will use to bring in institutional and accredited investors. SBI Holding didn’t 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 report said.
The Japanese finance company is in the midst of leading a 61-bank consortium working on a domestic payments mobile app using Ripple’s technology, the report said.
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, CoinTelegraph reported.
– WN.com, Jack Durschlag