Backed by Japanese conglomerate SBI Group and SBI Digital Asset Holdings, SBI Digital Markets’ new platform leverages Fireblocks’ MPC-based digital asset custody technology

Singapore, December 01, 2022 – SBI Digital Markets (SBI DM), a subsidiary of Tokyo-based SBI Digital Asset Holdings (SBI DAH), the digital asset arm of the financial services conglomerate SBI Group, will be launching its institutional digital asset platform, and leveraging Fireblocks’ enterprise-grade digital wallet technology for the platform.

SBI DM, a digital financial services company regulated by the Monetary Authority of Singapore (MAS), is leading the way in digital assets for institutional capital markets by building an ecosystem for the issuance, custody, management, and liquidity of these digital assets. This platform is expected to launch before the end of 2022, and will leverage Fireblocks’ MPC-based wallet technology to provide critical security and governance for storing, transferring and protecting client assets, without undermining operational efficiency. More information on SBI DM’s services and offerings can be found at https://sbidm.com

Fireblocks’ MPC-CMP technology has been widely adopted by some of the world’s most recognized financial institutions and cutting-edge fintech companies, including BNY Mellon, BNP Paribas, SIX Digital Exchange, ANZ Bank, FIS, Checkout.com, MoonPay, Revolut, and Wirex.

SBI Digital Markets’ digital asset platform will also utilize technology from leading U.S.-based fintech company Securitize for tokenized securities issuance and distribution, beginning with bonds and adding other asset classes in the future. The first-rate infrastructure services to be delivered include key storage, transaction execution, automated reporting, blockchain management and monitoring procedures in accordance with banking-grade compliance standards. SBI DM was granted its Capital Markets Services Licence by the MAS in September 2022.

SBI DM’s parent company SBI Digital Asset Holdings recently partnered with J.P. Morgan and DBS Bank on the successful Project Guardian, sponsored and led by MAS. The pilot project successfully executed an industry-first live trade of tokenized assets with J.P Morgan on a public blockchain, and included a simulated tokenized bond transaction between SBI DAH and Singapore’s largest bank DBS.

“We are very pleased to be working with Fireblocks for this initiative. By leveraging two industry leaders’ respective strengths, SBI Digital Markets integrating Fireblocks will help set the stage for institutional investors to complete their smooth transition to Web3. We look forward to shaping the future of the digital asset ecosystem together,” said Winston Quek, CEO of SBI Digital Markets.

Michael Shaulov, Co-Founder & CEO of Fireblocks, said: “Fireblocks has committed to building the most robust Web3 capabilities on our platform for fintechs and non-financial companies alike. We are delighted to work alongside SBI Digital Markets to build and scale their capital markets offerings and to ensure their customers’ seamless transition to Web3.”

In 2022, over 1,500 organizations deployed Fireblocks’ technology to protect customer and investor funds, strengthen digital asset security, and streamline day-to-day crypto operations. Fireblocks recently cemented its status as a SaaS Centaur, by surpassing $100 million ARR for 2022.

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About SBI Digital Markets

SBI DM was created in late 2020 as a subsidiary of SBI Group’s digital asset arm SBI Digital Asset Holdings Co., Ltd. (“SBI DAH”) with the ambition to become a top-tier Singapore-based digital asset business for financial institutions. SBI DM is set to directly target the growing demand for public and private institutional digital assets by providing institutional services, including issuance, corporate advisory, and custody of digital assets. https://sbidm.com

About SBI Digital Asset Holdings and the SBI Group

SBI Digital Asset Holdings endeavors to bring innovation to the financial industry by building an ecosystem for issuance, custody, management, and liquidity for digital assets. SBI Digital Asset Holdings, via SBI group companies, has strong links with other group investments such as Ripple, R3, B2C2, Securitize, Elliptic and has inroads to banking and securities infrastructure across Asia with businesses in Thailand, South Korea, Hong Kong, Malaysia, and Cambodia. SBI DAH has investments in key portfolio companies including Sygnum, Boerse Stuttgart Digital Exchange, Lancium, and Tangem among others. Through SBI Digital Markets and Asia Digital Exchange, the group is growing its presence in the region to help shape the digital asset ecosystem and contribute towards making Singapore one of the world’s leading digital asset hubs.

The SBI Group is a leading financial conglomerate based in Japan. The SBI Group’s core businesses include Online Financial Services Business, Asset Management Business, Investment Business and Crypto-asset Business. In addition, it is one of the largest Japanese private equity firms and leverages its extensive eco-system to further drive the value of its investments. Please visit www.sbidah.com and www.sbigroup.co.jp for more information.

About Fireblocks

Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 1,500 financial institutions, has secured the transfer of over $3 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. For more information, please visit www.fireblocks.com

Media Contacts

SBI Digital Markets: media@sbidigitalmarkets.com

Fireblocks: Gaby Hui (ghui@fireblocks.com) / Sharmin Cheema (scheema@fireblocks.com)

Disclosures

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