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Business & Finance

Japanese Financial Giant SBI Launching Its Crypto

Strategic Business Innovator (SBI) Group is a Tokyo based financial services company and has decided to invest in Taiwan based Blockchain startup called OwlTing with “Eight-figure USD investment with 20% equity. OwlTing specializes in hotel booking and travel services and is planning to launch Initial Public offering (IPO) next year. The most powerful product of OwlTing is OwlNest which is Blockchain based platform provides hotel and travel booking, and another product of OwlTing is OwlChain provides food safety services. Currently, OwlTing has 400 hotel operators in Taiwan and are planning to boost this number to 30,000 by 2019.

The investment from SBI will allow OwlTing to accelerate expansion into Europe and establish offices for global operations. Our most critical milestone next year will be our initial public offering on NASDAQ Dareen Wang CEO OwlTing

OwlTing’s mother company SBI is planning to start a Joint Venture with Ripple, named “SBI Ripple Asia” on South Korean based Crypto Exchange Platform Coinone. For payment transfers, they will be using xCurrent, which is Ripple’s blockchain-powered cross-border payment platform.

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Muhmmad Furqan

Furqan is a financial markets expert. A regular trader of cryptocurrencies and hold some investments in Bitcoin, Stellar, IOTA and OST. Contributes with latest industry insights. Contact the editor at editor.opinions@blockpublisher.com

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