SBI Holdings to launch Japan’s First crypto-focused fund with 50% XRP allocation


One of the major markets that saw blockchain technology being implemented the earliest was remittance. The traditional remittance system was slow and costly. With the onset of blockchain tech, the world was quick enough to adopt the new system.

Several blockchain companies have been working with blockchain to boost fintech. One of the names that stand-out in this field is blockchain payments company Ripple, the organization behind popular cryptocurrency XRP.

Ripple has partnered with banks and several financial institutions that have been using Ripple’s financial products. RippleNet is enabling banks to process cross-border payments while making the process faster and a lot cheaper.

The list of companies working with Ripple is quite long, but one of its biggest backers is Japanese financial conglomerate SBI Holdings. The blockchain company had partnered with SBI holdings back in 2016, to form SBI Ripple Asia, and has worked on several projects ever since.

According to a recent press release, SBI Holdings now has plans for launching the nation’s first crypto focussed asset fund with a majority allocation of XRP, Ripple’s native cryptocurrency.

The release states that the fund is set to launch in the coming months. The fund is designed with the intention of allowing its clients to be exposed to emerging and a unique asset class that is cryptocurrencies. A part of the release reads:

50% of the fund will be allocated in XRP, 35% will be in Bitcoin (BTC) and the remaining 20% will be allocated in Ethereum (BTC). The reason for these assets to have secured a place in this is fund according to SBI is that:

“Crypto-assets, which have a low correlation to traditional assets such as stocks, bonds, etc., enhance the effectiveness of diversification.”

The fund will be handled and operated under the supervision of the SBI alternative investments group in collaboration with an anonymous entity. SBI Securities and SBI Moneyplaza will be responsible for the sales of the fund’s shares to individual investors.

Lastly, SBI’s crypto trading operation, SBI VC Trade, will be in charge of maintaining custody of the crypto assets.

SBI and Ripple

Last year, SBI had announced the launch of a dividend program where investors who held at least 100 shares of SBI holdings were entitled to receive 30 XRP. Investors who wanted to get hold of their free XRP had to open an account in SBI VC Trade.

Furthermore, SBI holdings recently revealed its plans to integrate Ripple’s settlement platform MoneyTap with ATMs run by various banks throughout Japan. The integration would allow users to seamlessly access their funds irrespective of the banks they are a customer of.

Anna Larsen
Anna Larsen has been a Crypto enthusiast since 2016. Fascinated by the technology and its usecases she decided to pursue a career in content creation related to this space. The journey has been exciting ever since.

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