Japanese financial conglomerate SBI Holdings has invested a “seven-figure sum” in a startup called Securitize, which issues and manages digital securities.
Two months ago, Securitize also announced raising $14 million from Santander Bank and MUFG. The exact amount received from SBI was not disclosed, but the founder and CEO of Securitize, Carlos Domingo, said that a “seven-figure sum”was invested in the startup. He said the company intends to use some of the funds to open a new office in Japan by the end of the year.
“We are going to do business here, and it will not only be finding customers in Japan, but also localizing the technology,” he said.
Securitize already has a subsidiary in the country, but at the first stage, Domingo expects to start working with a small team. In a statement, SBI Holdings CEO and President Yoshitaka Kitao said his company “strongly believes in the future of digital securities, “calling Securitize one of the”leading players in the industry.”
“I think the fact that SBI believes in and invests in a company like us means moving towards a broader distribution of token shares,” Domingo said.
Last year, Securitize received almost $13 million from Blockchain Capital and Coinbase, and in January it was announced that Securitize and IBM are developing a blockchain platform for issuing debt. In addition, at the beginning of the month, the largest Bank in Japan, MUFG, led a consortium to research and develop standards for managing tokens-shares. Securitize became The only platform provider for issuing tokens and shares.