SBI Crypto Investment Backs Up Mobile Based Crypto Wallet BRD

The Japanese finance giant, SBI Holdings, has a crypto subsidiary called SBI Crypto Investment. Reports tell us of a recent development with the crypto subsisdiary.

The group has recently invested in crypto firm Breadwinner AG, which is based out of Switzerland. Breadwinner is a developer of mobile crypto wallet BRD, which was the primary recipient of this investment

BRD, which already has a wide userbase, operates in more than 170 countries. It has been widely used by people, which is evident from the multiple downloads that it boasts of, ranging to almost 1.8 million Android and iOS users.

The SBI group has previously invested in the crypto industry but this investment is an important one.

The company’s Interim results announcement has revealed that in the past six months, dating till Sept. 30, 2018, SBI Holdings has registered a monumental amount of over 176 million yen in revenue which amounts to USD $1.6 million.

The company had previously announced back in August that it had invested in cryptocurrency exchange LastRoots for the second time. So this new investment is not something that is out of the way for SBI Holdings.

Previously we had reported that Japan’s SBI Group and R3 Join Hands to Promote Corda Blockchain in Asia.

SBI has been at the forefront of the crypto sphere for a while now. SBI created this joint ventureto promote Corda Blockchain in Asia and get more people to use the services.

It had also partnered with Ripple in the past when Japan’s SBI Group To Use Ripple (XRP) More Significantly. It lanched an international remittance application in partnership with Ripple but while working on a bunch of other blockchain projects as well.