SBI Partners with Boerse Stuttgart to Boost Global Digital Asset Adoption

New Partnerships in Digital Finance

In a gripping turn of events, Japan’s leading financial services firm, SBI, has announced a strategic collaboration with Germany’s Boerse Stuttgart Group. This venture aims not just to dabble in digital assets but to make waves across Europe and Asia.

Investing in Innovation

SBI isn’t just throwing around loose change; they’re investing in two of Boerse Stuttgart’s subsidiaries—Boerse Stuttgart Digital Exchange (BSDEX) and Boerse Stuttgart Digital Ventures. For the curious minds, BSDEX is an up-and-coming cryptocurrency exchange that took its first steps in September 2019. Meanwhile, its sibling, the Digital Ventures arm, birthed the nifty crypto trading app, Bison.

Building a Blockchain Ecosystem

According to SBI, the mission is clear: foster a blockchain-based digital asset financial ecosystem. They are on a quest to stimulate digital asset demand globally. Yoshitaka Kitao, SBI’s president, emphasizes that a trusted global financial partner is paramount for success.

“We will work with the Boerse Stuttgart Group in the digital asset-related business of the SBI Group to create digital asset demand worldwide,” says Kitao.

Technology Exchange and Asset Custody

What’s to come from this partnership? Alexander Hoeptner, CEO of Boerse Stuttgart, notes that the alliance will involve technology exchanges and will pave the way for mutual issuance and custody of digital assets. Given that both Asia and Europe lead in digital asset growth, this strategic move positions both companies at the forefront of a financial revolution.

SBI’s Track Record in Crypto

SBI has been all-in on crypto for quite some time. After joining forces with Ripple in 2016, they’ve swiftly moved into various digital asset ventures. These include SBI Crypto and SBI VC Trade, contributing to their status as a crypto-friendly powerhouse. A recent report indicated that trading revenue for SBI Securities increased by 19% in 2019, a direct result of their crypto engagements.

The Future of Digital Assets

The implications of SBI’s partnership with Boerse Stuttgart extend far beyond the signing of papers. They’re not only innovating in the digital finance landscape but also paving the path toward a future where digital assets are the norm rather than the exception.