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.