This has been a great Monday Morning. We get news out of Japan and from the one and only Crypto Eri that SBI has added 2 new Shareholders to MoneyTap.
Daiwa Securities Group and Sumitomo Mitsui Trust Holdings.
Daiwa Securities Group is a Japanese investment bank that is the second-largest securities brokerage after Nomura Securities. Major subsidiaries include Daiwa Securities, which offers retail services such as online trading to individual investors and investment banking services in Japan, as well as Daiwa Capital Markets, the firm’s international investment banking arm (with a presence across Asia, Europe and North America) that provides M&A advisory, sales and trading services in a variety of financial products to corporate and institutional clients. Other group companies provide asset management, research, and private equity fund services.
Sumitomo Mitsui Trust Holdings is a Japanese financial holding company headquartered in Chiyoda, Tokyo. It provides an assortment of financial products to retail and wholesale customers, with a focus on asset management, financial brokerage, and real estate services.
MoneyTap was established to quickly build a money transfer application for smartphones using Distributed Ledger Technology (DLT), and the next generation of financial infrastructure using DLT. Daiwa Securities and Sumitomo financial institutions will participate in management as shareholders, and will provide financial services with high customer benefits in cooperation with a wide range of financial institutions, as well as cash.
The Official press release can be found on SBI Website – but here is the Press Release translated into English