SBI Investment, the asset management arm of the Japanese conglomerate SBI Holdings, has announced a seven-figure investment in Securitize, a firm that offers compliant yet adaptable global solutions for digital securities.
Securitize has solidified its identity in the trending market of blockchain by securing a massive fourteen million US dollars ($14 million) capital injection by renowned institutions like Nomura, Santander bank and MUFG, about two months back. Since then, it has emerged as a new phenomenon with its innovative and trusted solutions for tokenization. One intention behind procuring investments from three prominent names in the banking industry was to attract further funding and that goal, it seems, has now been accomplished.
SBI Investment backs digital securities firm Securitize
Although the exact figure is not disclosed yet, Carlos Domingo, founder and CEO of Securitize, took pride in announcing that it is indeed a seven-figure sum. A large portion of this capital boost, he added, will be used to set up an office, albeit a small one, in Japan, most likely by the end of this year.
We have decided to do business in Japan, and that requires us to attract customers by localizing the technology, understanding the market needs and the language. Only this way, can we secure similar types of integrations in the future. Besides, Japan’s stable economy, favourable market conditions, and awareness surrounding digital assets make it an attractive market for tokenization and SBI is spearheading this movement by acting as a founding member of the Japan Security Token Offering Association, Domingo declared.
Besides the capital boost from three banks and SBI Investment, Securitize has also procured backing from digital currency exchange Coinbase and Ripple Xpring, the innovation arm of the payment giant Ripple.
Commenting on this grand endorsement, Yoshitaka Kitao, CEO and President of the Tokyo-listed SBI Holdings, said that the company has high hopes for digital securities and Securitize is at the front of innovations and developments in the industry.
Securitize believes it is the matured interests in space that did the trick
Nevertheless, Domingo reckons that the move is mostly a cause of a broader shift in people’s interests. According to him, the excitement and curiosity surrounding digital securities primarily came from people who believed in blockchain’s potential and those sold on the idea of initial coin offering.
However, in the present climate, there seem to be heightened interests around security token offering and similar services, and thus the investment was only imminent, Domingo believes.
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