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  • The purchase is in line with SBI Crypto Investments goal of launching a cryptocurrency derivatives trading platform.
  • It is estimated that the 12% stake cost SBI Crypto Investments at least $9 million.

The Tokyo-based SBI Crypto Investment has, according to Nikkei Asian Review bought a 12% stake in United States Company, Markets of North Carolina. This is in line with its goal of starting a crypto derivatives trading platform. The platform will be tailored towards providing services to institutional investors.

SBI Holdings is the parent company of SBI Crypto Investments, besides it is also a subsidiary of the larger SBI Group. SBI Group is an organization with a market capitalization of $5.9 billion. SBI Crypto Investment was formed in order to help the firm make advancement into the cryptocurrency industry while still operating within the mandate of SBI Group.

Clear Markets of North Carolina, on the other hand, is known for the manufacture of electronic software used in trading. Itself a part of a larger firm referred to as QUICK Corp. Similarly, QUICK Corp is part of Nikkei Japan. Clear Markets used the distribution system information developed by QUICK Corp to sell and distribute is trading software. Its other offices are based in Tokyo, London as well as New York.

The exact amount used to purchase the 12% stake was not made public. Although Nikkei Asian Review approximates it be at least $9 million.

According to Finance Magnates, “Financial derivatives are business contracts based on some kind of commodity, that in and of themselves have monetary value and can be traded like assets.”