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Japan’s SBI Group Invests $15 Million in Crypto Mobile Wallet

By Mary T. | January 28, 2019
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Japan’s SBI Group Pours $15 Million into Crypto Mobile Wallet

SBI Crypto Investment, a subsidiary of the Tokyo-based SBI Holdings, reportedly contributed to the funding of $15 million raised by cryptocurrency mobile wallet BRD. 

BRD claims to use the fund to accelerate international expansion and scale its technology platform. “The new investment will ensure our long-term global growth, and we are incredibly excited about collaborating with SBI as a strategic investor and business partner to make that happen.” said BRD co-founder and CEO Adam Traidman. He also added that the investment would help them to firmly cement themselves in the Asian market.

BRD reportedly revealed the availability cryptocurrency purchases via Single Euro Payments Area (SEPA) through a partnership with crypto payment provider Coinify.

BRD is available in over 170 countries and has more than 1.8 million users in total, according to Cointelegraph. BRD has now raised a total of $55 million and $6 billion in assets kept on its platform.

As the Cryptosight reported in January, Japan’s SBI Group Pumps $15 million into Swiss Smart Wallet. SBI Group has been building up its ventures into wallet makers. Last year, it announced a partnership with Denmark-based blockchain security startup Sepior to develop a digital wallet for its cryptocurrency exchange VCTRADE.

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