{"id":33004,"date":"2019-01-30T16:46:07","date_gmt":"2019-01-30T15:46:07","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=33004"},"modified":"2019-01-30T16:54:33","modified_gmt":"2019-01-30T15:54:33","slug":"xrp-centric-sbi-holdings-and-r3-to-partner-in-a-joint-venture","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/xrp-centric-sbi-holdings-and-r3-to-partner-in-a-joint-venture\/","title":{"rendered":"XRP-Centric SBI Holdings and R3 to Partner in a Joint Venture"},"content":{"rendered":"

SBI Holdings<\/a> and R3\u00a0have announced<\/a> that both companies have agreed on establishing a joint venture with its operations in Japan. SBI Holdings<\/a> has contributed 60% of the capital for the venture whereas R3 has provided the other 40%. The announcement by both companies also provided the following information about the new venture.<\/p>\n

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Company Name: SBI R3 Japan Co., Ltd.<\/div>\n
Business: Provision of DLT platform Corda, and other related business<\/div>\n
Address: Izumi Garden Tower, 1-6- 1 Roppongi, Minato-ku, Tokyo, 106-6019, Japan<\/div>\n
Representative: Mamoru Fujimoto<\/div>\n
Establishment: January 2019<\/div>\n
Capital: JPY 500 million<\/div>\n<\/blockquote>\n
SBI Holdings has been known<\/a> to be one of the biggest backers of Ripple technology and XRP not only in Japan, but across the globe. The financial giant recently launched the VC-Trade crypto exchange that listed XRP<\/a> as one of its first digital assets to be traded on the platform.<\/div>\n

SBI Holdings Already the Largest Outside Shareholder of R3<\/strong><\/h4>\n
Back in May 2017<\/a>\u00a0R3 at the time, closed the largest funding round in the history of Distributed Ledger Technology (DLT). Over 40 financial institutions participated in the funding worth $107 Million. SBI Holdings was part of the group that included top financial institutions such as\u00a0Bank of America, Merrill Lynch, HSBC, ING, Banco Bradesco, Ita\u00fa Unibanco, Natixis, Barclays, UBS\u00a0and Wells Fargo. The funds have facilitated the expansion of the Corda platform and its Enterprise solution by the same name.<\/div>\n<\/div>\n<\/div>\n
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In August 2018, SBI Holdings once again invested in R3<\/a>. This move made SBI Holdings the largest outside shareholder of the blockchain firm. SBI has also been providing training programs for Corda in Japan.\u00a0The new joint venture will carry out the following activities in the country:<\/div>\n
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