Published March 07, 2017 | View complete press releases list |
Date: March 07, 2017
Categories: Financial Technology, Payments, technology, Transaction Banking
Keywords: Wirex, SBI, Fintech
SBI Investment Co., Ltd., is a subsidiary of SBI Holdings, Inc., which conducts investments and management of venture capital funds. SBI Investment hereby announces that it has invested in Wirex Limited through the FinTech Fund.
Wirex is a provider of platforms that allow the customer to use bitcoin and other virtual currencies in Visa and Master card networks across the world. These platforms enable the user to instantly exchange virtual currency for real-money U.S. dollars, euros or UK pounds on an application from Wirex. By loading such legal tender onto the prepaid card, the user can use it in Visa and Master Card networks around the world, including ATMs and member merchants. Wirex’s service, already having over 500,000 members in 130 countries across the world, will likely see its users grow further in number, going forward. By the end of the first half of 2017, it will begin to allow users to exchange virtual currency for Japanese yen as well.
In December 2015, SBI Investment established the FinTech Fund (Fund name: FinTech Business Innovation LPS; total commitment amount: JPY 30 billion), which intends to invest in the FinTech field. The FinTech Fund will make aggressive efforts to invest in promising both Japanese and overseas venture companies in the FinTech business fields and support open innovation between the fund investors and the investee companies, with a view to promote introduction and utilisation of FinTech-related technologies by the fund investors, while boosting the value of investee companies.
The SBI Group will continuously expand investments in venture companies in the FinTech field by leveraging the knowledge in the online financial services businesses accumulated by itself, as a FinTech pioneer company, and sequentially adopt the leading-edge FinTech technologies in the Group’s Financial Services Business.
Re-disseminated by The Asian Banker
SBI Investment Co., Ltd., is a subsidiary of SBI Holdings, Inc., which conducts investments and management of venture capital funds. SBI Investment hereby announces that it has invested in Wirex Limited through the FinTech Fund.
Wirex is a provider of platforms that allow the customer to use bitcoin and other virtual currencies in Visa and Master card networks across the world. These platforms enable the user to instantly exchange virtual currency for real-money U.S. dollars, euros or UK pounds on an application from Wirex. By loading such legal tender onto the prepaid card, the user can use it in Visa and Master Card networks around the world, including ATMs and member merchants. Wirex’s service, already having over 500,000 members in 130 countries across the world, will likely see its users grow further in number, going forward. By the end of the first half of 2017, it will begin to allow users to exchange virtual currency for Japanese yen as well.
In December 2015, SBI Investment established the FinTech Fund (Fund name: FinTech Business Innovation LPS; total commitment amount: JPY 30 billion), which intends to invest in the FinTech field. The FinTech Fund will make aggressive efforts to invest in promising both Japanese and overseas venture companies in the FinTech business fields and support open innovation between the fund investors and the investee companies, with a view to promote introduction and utilisation of FinTech-related technologies by the fund investors, while boosting the value of investee companies.
The SBI Group will continuously expand investments in venture companies in the FinTech field by leveraging the knowledge in the online financial services businesses accumulated by itself, as a FinTech pioneer company, and sequentially adopt the leading-edge FinTech technologies in the Group’s Financial Services Business.
Re-disseminated by The Asian Banker
