Home News Japanese financial giant SBI invested in Swiss crypto wallet Breadwinner

Japanese financial giant SBI invested in Swiss crypto wallet Breadwinner

SBI Crypto Investment, a subsidiary of Japanese financial conglomerate SBI Holdings, has invested in Breadwinner AG – a Switzerland-based cryptocurrency wallet developer.

SBI’s crypto investment arm has not yet disclosed the exact amount invested in the Swiss developer of BRD mobile crypto wallet.

The announcement on the matter reads that BRD mobile app is currently used in 170 countries across the world, while boasting no less than 1 800 000 downloads globally. Last six months saw Breadwinner AG earning about $1.6 million, according to the interim results announcement by SBI.

This is not the first time when SBI invests its funds in cryptocurrency companies. In August 2018, the holding increased its share in LastRoots crypto exchange. This was followed by SBI Holding announcing the launch of VCTRADE cryptocurrency exchange, previously postponed due to the Coincheck hack and resulting changes to the cryptocurrency market and related regulatory framework in Japan.

Last month, SBI Group Holdings partnered with blockchain consortium R3 to promote Corda blockchain platform in Asia.