SBI Bits Executive Jerry Chan Talks Bitcoin Cash
SBI Group is one of the first Japanese financial institutions to start getting involved with bitcoin and cryptocurrency applications. The company's Head of Digital Assets dept., Jerry Chan helps lead the firm's fintech subsidiary that builds technological platforms and business tools for large-scale institutions. SBI Bits is excited about the development surrounding the bitcoin cash ecosystem, and Chan explains a few reasons why to our host Jake Smith.
"SBI Bits is like a fintech internal vendor we do all of our technology internally within SBI Group. So our bread and butter business is exchange platforms, core location or anywhere where the profit center companies require technology. SBI is a larger financial group and has online stock trading and liquidity markets," explains Chan.
SBI Group is the first financial services conglomerate in Japan that has gotten really big into bitcoin, blockchain, and associated technologies. As you may have heard GMO, DMM, which are more media technology rooted companies, are also getting into [them] in their own way.
An SBI Bits Backed Cryptocurrency Exchange Coming Soon
SBI Bit's leader details that the company is also in the midst of constructing a cryptocurrency exchange. The exchange will be built by SBI but will likely be licensed to other SBI Group companies once completed.
"That is one of the projects [an SBI Bits backed cryptocurrency exchange] we are working on — SBI Bits is a technology platform developer. The companies that will actually operate the exchange once we build it may not be SBI Bits itself," Chan details during his interview.