{"id":54575,"date":"2023-12-12T18:27:24","date_gmt":"2023-12-12T18:27:24","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/japans-sbi-holdings-and-saudi-aramco-explore-joint-digital-asset-ventures\/"},"modified":"2023-12-12T18:27:25","modified_gmt":"2023-12-12T18:27:25","slug":"japans-sbi-holdings-and-saudi-aramco-explore-joint-digital-asset-ventures","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=54575","title":{"rendered":"Japan\u2019s SBI Holdings and Saudi Aramco Explore Joint Digital Asset Ventures"},"content":{"rendered":"<div>\n<figure id=\"attachment_128881\" aria-describedby=\"caption-attachment-128881\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-128881\" class=\"wp-caption-text\">Source: Adobe Stock<\/figcaption><\/figure>\n<p>Japanese financial services firm SBI Holdings announced last Thursday that it has signed a memorandum of understanding (MOU) with oil giant Saudi Aramco for potential collaboration on digital asset investing.<\/p>\n<p>According to the document, SBI\u2019s agreement with the state-owned oil giant would entail \u201ccollaboration in the field of digital assets and co-investments leveraging both parties\u2019 investment portfolios related to digital assets.\u201d<\/p>\n<p>SBI\u2019s total assets are worth $165 billion as of 2023. Saudi Aramco is the world\u2019s second-largest corporation by revenue, next to Walmart.<\/p>\n<p>Both parties would agree to identify Japanese crypto startups and encourage their growth and entry into the Saudi Arabian market. They would also establish numerous factories across both countries for projects \u201crelated to investments in the semiconductor field.\u201d<\/p>\n<p>\u201cThe scope of the alliance may be expanded upon agreement between the Company and Aramco,\u201d read the notice from SBI.<\/p>\n<p>Back in October, SBI announced a separate collaboration with the Japanese government to invest \u00a5800 billion ($5.3 billion) to help Taiwan\u2019s Powerchip<br \/>Semiconductor Manufacturing Corporation builds a semiconductor factory in northeast Japan.<\/p>\n<p>Though that particular factory will focus on automotive chips, semiconductors are critical to the Bitcoin mining industry, which uses high-powered purpose-built computers for securing the blockchain and earning new BTC.<\/p>\n<h2>SBI\u2019s Focus On Crypto<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>Like other international financial giants, the firm is increasingly turning to crypto as both an investable asset class and next step in the evolution of financial technology.<\/p>\n<p>Last month, SBI entered a joint venture with Standard Chartered to establish an investment firm based in the United Arab Emirates (UAE) to focus on \u201cmarket infrastructure, risk management and compliance tools, DeFi, tokenization, consumer payments, and the metaverse.\u201d<\/p>\n<p>It also signed a separate MoU with stablecoin issuer Circle in late November to expand the use of USDC in the Japanese market. The company is currently pursuing registration as an electronic payment instruments service, awaiting approval by Japanese regulators.<\/p>\n<p>SBI has been partnered with XRP issuer Ripple since 2018 and is the company\u2019s largest outside shareholder.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em>Enter your email for our Free Daily Newsletter<\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span><\/p>\n<div class=\"recaptcha-text\">\n        This site is protected by reCAPTCHA and the Google<br \/>\n        Privacy Policy and<br \/>\n        Terms of Service apply.\n    <\/div>\n<\/div><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/japans-sbi-holdings-and-saudi-aramco-explore-joint-digital-asset-ventures.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe Stock Japanese financial services firm SBI Holdings announced last Thursday that it has signed a memorandum of understanding (MOU) with oil giant Saudi Aramco for potential collaboration on digital asset investing. According to the document, SBI\u2019s agreement with the state-owned oil giant would entail \u201ccollaboration in the field of digital assets and co-investments [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":54576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-54575","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Japan\u2019s SBI Holdings and Saudi Aramco Explore Joint Digital Asset Ventures | Prosfunds<\/title>\n<meta name=\"description\" content=\"Source: Adobe Stock Japanese financial services firm SBI Holdings announced last Thursday that it has signed a memorandum of understanding (MOU) with oil\" \/>\n<meta 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