SBI Crypto Investment, a wholly-owned subsidiary of SBI Holdings, announced an investment in Swiss digital mobile wallet service Breadwinner. The wallet application for virtual currency is provided to 1.8 million users in 170 countries via App Store and Google Play.
“By linking virtual currency and existing financial services with simple and easy to use UI / UX, we are promoting real demand of virtual currency,” SBI Holdings said in a statement translated from Japanese. This expands the firm’s capital and alliance with digital asset-related venture companies to build digital asset-based ecosystems. Financial details were not disclosed.
In a separate statement, the Group announced a JPY150 million ($1.4mn) capital outlay to set up SBI wefox Asia, which will do insurance sales and consultation using artificial intelligence and big data tech of German firm wefox.
wefox Germany is a subsidiary of Zurich-headquartered FinanceAPP, which SBI’s fintech fund had previously invested in. The platform’s tech, which includes cloud computing, has been adopted by more than 1,000 insurance brokers in Germany, Switzerland and Austria, with more than 250,000 policyholders in the end.