Less than 24 hours ago, Ethereum World News ran a story about how the SBI Holdings company aims at conquering the cryptocurrency trading arena with its VCTRADE crypto exchange. In the article, we mentioned that it would do so by acquiring a 12% stake at the U.S trading firm called Clear Markets.
Furthering on this point about the Clear Markets firm, it can be confirmed that SBI Holdings has indeed invested $9 Million in the Clear Markets firm that is headquartered in Charlotte, North Carolina. The same firm has offices in New York, London and Tokyo making their reach globally much larger than earlier stated.
Through a 12% stake at Clear Markets, SBI plans on building a derivatives exchange that allows institutional investment products to be tied to the price of Bitcoin and most likely our favorite digital asset of XRP. SBI, through its recent financial report, aims at increasing their stake from 12% to 20% at Clear Markets.
Matti Greenspan, a Senior Market Analyst at eToro had stated the following with regards to the recent stability of XRP in the markets:
XRP’s recent rise is likely related to Ripple investor SBI’s plan to launch XRP derivatives…Large banks may be stress testing the system for wider adoption.
The SBI firm has also invested in Canada’s Lancium Technologies which provides wind power to crypto currency mining activities. This means that SBI is also environmentally conscious of the carbon footprint of cryptocurrency mining and aims at lowering emissions on a global level. Lancium’s use of wind power is a win-win solution that supports the development of renewable energy sources which are also cost effective for all parties involved.
The Lancium Technologies deal includes equity investment and debt financing from SBI holdings. The funds will be used to accelerate the development of Lancium’s data center solutions. SBI also intends to expand its crypto mining activities at Lancium data centers.
Michael McNamara, Lancium’s co-founder and CEO, commented that:
We are thrilled to welcome SBI as a major shareholder and customer. Our data centers will provide SBI with an exceptionally inexpensive and totally green solution that provides them the computing power they need. They share our desire to develop new markets for intermittent renewable resources, and provide sustainable, carbon-free energy solutions to our data center customers. We are excited about the opportunity to bring a new, high growth load to the renewable energy industry.
SBI Holdings CEO, Yoshitaka Kitao, added:
The Lancium solution is a strategic investment for the SBI Group and will enable us to expand our crypto-currency mining business built on low-cost green energy. This is a win for all stakeholders as well as for Mother Earth.