SBI cracks Tokyo’s stone-faced regulators to launch Japan’s first crypto fund

[KILLSHOT]

SBI Group – one of Tokyo’s most innovative financial services giants – is set to launch Japan’s first crypto fund, granting investors the opportunity to expose their portfolios to digital assets such as Bitcoin and other cryptocurrencies.

The proposed fund, which would be set up under the operations of SBI Digital Asset Holdings – a subsidy of the parental SBI Holdings – will launch in November and is expected to involve a substantial investment in the hundreds of millions.

Japan is infamous for its strict crypto regulatory environment. There are only a handful of crypto assets available legally to Japanese retail investors – Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and most recently Cardano (ADA).

Cardano was recently approved by the air-tight Japanese financial watchdog – a significant and exclusive accomplishment.

SBI CEO Tomoya Asakura highlighted how the launch of the first crypto fund in Japan will make it significantly easier for Japanese capital to enter into crypto markets under the management of a team that can balance the volatility of cryptocurrencies with the tough demands of regulators.

“I want people to hold it together with other assets and experience first hand how useful it can be for diversifying portfolios,” he said.

“There is an overwhelming perception that cryptocurrencies are highly volatile and speculative.

“If our first fund goes very well, we’d like to move quickly.”

SBI Digital Asset Holdings is already heavily-involved with the Japanese crypto sector, the institutional financier currently operates two exchanges – SBI VC Trade and the TaoTao platform – alongside further interests in both cryptocurrency mining and liquidity provision.

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