Japanese financial services company SBI Group has announced the purchase of 40% stake in the Taiwanese manufacturer’s “cold” cryptocurrency wallets Coolbitx.
Note, group of companies SBI Holdings over the past year has significantly strengthened its position in the industry of virtual currencies, planning to continue to examine different types of crypto-currency business models. To date, SBI Group has invested in hedge funds, derivatives, stock exchanges, mining companies, and in organizations that specialize in money transfers and storage of cryptocurrencies.
The transaction amount was not specified. It is noteworthy that a year ago Coolbitx startup has managed to attract investments in the amount of $500,000 and planned to spend these funds to improve security.
Purse Coolwallet looks like a credit card and currently supports Litecoin, Bitcoin Core, Ripple and Ethereum. The device works with smartphones running operating systems iOS and Android, and uses technology NFS, accessing them via Bluetooth. According to the startup’s founder, Michael OU (Ou Michael), Coolwallet gives users “the convenience of credit cards with the best degree of protection”.
In turn, the investment giant SBI Group noted the importance of technology Coolbitx for their developments in the sphere of higher levels of security. In addition, it is assumed that such a step will meet the needs of the investors of the company and ensure further development of financial institutions in the ecosphere of digital currencies.
“We were looking for ways to improve the level of security, using advanced technology of third-party companies and conducting comprehensive risk management within the company, regarding the protection of the assets of consumers as a main priority,” the statement said SBI.
Recall that in October last year, the SBI Group has announced plans to release its own cryptocurrency. In addition, the company works closely with the start-up Ripple — their joint venture SBI Ripple Asia in January began to establish a consortium to study the possibility of using the blockchain to increase the efficiency of companies operating in the securities market.