SBI Holdings Claims 40% Stake in Hardware Wallet Company

SBI Holdings, the financial services arm of Japan's SBI Group, invested in cryptocurrency hardware wallet maker
07 March 2018   811

SBI Holdings, the financial services arm of Japan's SBI Group, announced that it has purchased a 40% stake in CoolBitX, a Taiwan-based manufacturer of "cold" wallets - hardware devices used to store private keys to cryptocurrency assets in an offline environment.

While the announcement did not disclose the exact amount of the investment, the news marks the latest move by the Japanese financial firm in expanding its investment in the blockchain ecosystem, including both hardware and software.

SBI says the business move is meant to meet the needs of the company’s investors while aiming to establish a robust “ecosystem” with virtual currency related businesses.

The Japanese finance firm says Coolbitx’s wallet has received positive attention due to the recent cryptocurrency exchange hacks. SBI believes that Coolwallet’s card feature and its connectivity with both iOS and Android operating systems will be something cryptocurrency proponents will utilize for a hardware wallet solution.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   137

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.
 

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.