Japan’s SBI Holdings Takes 40% Stake In Crypto Wallet Maker

Mar 07, 2018 at 6:54

Tokyo-based financial services company SBI Holdings Co. Ltd. has a new addition in its cryptocurrency-related businesses and operations.

The Japanese firm acquired 40 percent of CoolBitX Ltd., a Taiwan-based cryptocurrency hardware wallet developer.

The cold wallet allows users to store and manage virtual currencies in Taiwan. It’s basically a cryptocurrency wallet detached from the Internet.

SBI Holdings has formed a digital currency ecosystem composed of virtual currency related business such as virtual currency exchange.

The addition of CoolBitX in its portfolio aims to meet the diverse needs of investors, security in particular.

“In addition, in each business of the virtual currency ecosystem, we have been looking for sophistication of security by capturing advanced technologies of external companies in addition to thorough risk management within the company, taking the maintenance of customer assets as a top priority. In the future, while considering CoolBitX’s technology utilization, we aim to further enhance security,” SBI Holdings said.

The company said the wallet function of CoolBitX has “received a great deal of attention” amid rising digital currency theft cases.

Users of CoolBitX’s cold wallet “CoolWallet” is a thin and light and can be connected to iOS and Android mobile phones via Bluetooth.