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SBI Holdings Reportedly Purchases Crypto Exchange BITPoint

SBI Holdings Reportedly Purchases Crypto Exchange BITPoint

Japanese financial conglomerate SBI Holdings has reportedly purchased a controlling stake in regulated cryptocurrency exchange BITPoint, local news outlet Nikkei has learned.

Now, the platform competes with SBI VC Trade, which is part of the holding.

According to the publication, the deal involves the purchase of 51% of BITPoint and 5% of exchange operator Remixpoint for $98.6 million. Remixpoint may also count on additional payments should certain financial indicators be achieved.

SBI Holdings does not reportedly plan to integrate BITPoint into SBI VC Trade.

TheBITPoint is expected to increase its liquidity through B2C2 OTC platform, which SBI Holdings bought in December 2020.