Through its subsidiary, SBI Crypto Investment SBI Group has made another investment in Breadwinner AG. The latter is the firm behind BRD wallet, a mobile crypto wallet that has gained traction for its crypto wallet. Although the amount injected into Breadwinner AG is unknown, rumor has it to be a significant amount.
Breadwinner AG is a Switzerland based crypto company that has a presence in 170 countries worldwide with its users been IOS and Android users. Currently, BRD mobile app prides itself in having 1.8 downloads, and with SBI Holding investing in BRD wallet, the funds will be channeled to expand its development. Moreover, the funds will help bring crypto to the people by making it easy to access financial services available at the palm of their hands. For SBI Holdings, its success in the crypto sector is proving to be beneficial to the whole crypto industry with SBI Holding making investments in several firms. SBI success is evident in its six months financial report released recently, where its revenue amounts to 176 yen which loosely translates to USD1.6 million.
Other Investment made by SBI
Besides SBI Crypto Investment, the subsidiary behind the above investment SBI Savings Bank another subsidiary has formed a partnership with Dayli Intelligence. Dayli Intelligence is an artificial intelligence company in Korea but has many blockchain projects. The partnership agreement was signed in September 2018. Besides working with Dayli Intelligence, a blockchain firm SBI is also working with R3 the firm behind Corda blockchain to promote its usage in Asia. But before the September partnership, the previous month SBI made its second investment in LastRoots further increasing its stake. LastRoots operates a virtual currency exchange platform. Similarly, SBI Group is also working in partnership with Ripple which launched an international remittance money platform.
Besides channeling funds to other crypto firms, SBI Group is also making developments within its firm. As reported on Cointelegraph in December 2018 Vctrade started accepting deposits in Ripple (XRP), Ethereum (ETH), and Bitcoin (BTC). SBI Group is a global company that is at the forefront of pushing the adoption of crypto, and through investing in such firms, it’s achieving its goal of increasing the adoption of crypto. And with its investment in Breadwinner AG SBI Group is pushing the adoption of crypto to the masses. Besides helping BRD with funds SBI Group will also offer support and its expertise where needed.