SBI Holdings Inks Key Deal with Saudi's Aramco for Tech Venture
The collaboration explores diverse projects, including digital assets, and the establishment of semiconductor factories in both Japan and Saudi Arabia

The collaboration explores diverse projects, including digital assets, and the establishment of semiconductor factories in both Japan and Saudi Arabia
Circle and SBI Holdings have partnered to expand USD Coin (USDC) in Japan, capitalizing on regulatory changes. The collaboration aims to set new standards in the financial sector, with SBI seeking approval for electronic payment services. Despite Circle's U.S. base, Asia leads in USDC adoption. The move aligns with Japan's push towards a Web3 economy. SBI Shinsei Bank will support USDC access, contributing to its $24.6 billion market cap, positioning it as the second-largest stablecoin.
The move follows the Japanese government's recent revision of the Payment Services Act on June 3, 2023, which aims to regulate stablecoins.
SC Ventures and SBI Holdings form a $100 million crypto investment initiative, signalling their active involvement in decentralised finance, tokenisation, and the metaverse.
Already, significant contributors to this fund include Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance, and the Daiwa Securities Group, committing a total investment exceeding 50 billion yen.
Together the companies will target blockchain-based issuance and distribution services targeting institutional investors.
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