Japanese financial conglomerate SBI Holdings acquires cryptocurrency exchange TaoTao Japanese financial giant SBI Holdings on Wednesday announced the acquisition of local licensed cryptocurrency exchange TaoTao. It became part of SBI's Liquidity Market division, which specializes in foreign exchange and derivatives trading.

Japanese financial conglomerate SBI Holdings acquires cryptocurrency exchange TaoTao

Japanese financial giant SBI Holdings on Wednesday announced the acquisition of the local licensed cryptocurrency exchange TaoTao. She became part of the SBI Liquidity Market division, specializing in foreign exchange and derivatives trading.

Previously, a 40% stake in TaoTao belonged to Yahoo Japan. TaoTao launched trading on the cryptocurrency market in May 2019.

Thanks to the latest expansion, SBI now controls two cryptocurrency trading platforms. In July 2019, it launched the SBI VC Trade exchange based on its SBI Securities division..

“In the future, we will make the most of the resources of the SBI Group as an all-encompassing financial group, the client base and the experience in servicing the trading of cryptoassets that TaoTao has accumulated all this time,” the message says..

Earlier it became known that TaoTao stopped negotiations with the Binance exchange regarding potential cooperation to enter the Japanese market of the latter.

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