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​SBI Holdings in Japan enters the field of digital currency mining

2019-03-22 10:24 am | Resource: News Section | No Views : 118

​SBI Holdings in Japan enters the field of digital currency mining SBI Holdings, the Japanese financial services giant, has set up a new subsidiary to manufacture chips and systems for digital currency mining, it said Friday in a statement.
The new project, SBI Mining Chip Co. (SBIMC), is part of SBI's Business Strategy for Digital Assets, according to an announcement released on Friday, March 22.
SBIMC will develop and manufacture digital currency mining devices, in partnership with a large semiconductor corporation, the statement did not mention yet, but indicated it was in the United States, the SBI said.
The new project will be led by Adam Traidman, a former NASA veteran who has "a high level of experience in advanced semiconductors and other electronic devices."
Mr. Tridman has over 20 years of experience as Chief Executive Officer of Chip Estimate, acquired by Cadence Design Systems in 2008 and WearSens, a specialist in diet monitoring in the past. He also served as CEO of BRD, in which the SBI Group invested, according to the company statement.
SBI, through SBI Crypto, began mining Bitcoin Cash (BCH) last year, but no longer extracts the digital currency.
The group first revealed its desire to enter the digital currency industry in 2017. At that time, the company said it was looking to acquire digital currency directly, including through mining, as well as creating ways to use digital currency and provide investment opportunities.
Over the years, the company has entered into many areas in the industry, including the establishment of VCTRADE for regulated currency exchange last June and the launch of the MoneyTap application for currency conversion based on Blockchain in partnership with Ripple (XRP), in October last year.
Earlier this year, the group invested $ 15 million in the emerging Swiss conglomerate Tangem, a manufacturer of a high-end digital currency-purse wallet, and recently formed a joint venture with the launch of the R3 Blockchain consortium to promote the adoption of the Corda R3 platform in Japan and abroad.

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