SBI Digital Asset Holdings – a subsidiary of banking heavyweight from Japan SBI Holdings – reportedly disclosed details of a joint crypto venture with Switzerland’s SIX digital exchange (SDX). 

Specifically, Singapore will reportedly be selected as the geological base for the joint venture via a crypto issuance firm, with a primary target of turning into a regional liquidity hub for institutions. 

“This is an important step in building the necessary global infrastructure for widespread institutional adoption of digital assets. Together with SDX‘s strength in Switzerland and our planned digital exchange in Osaka, this venture will establish a powerful institutional corridor between Europe and Asia.” Head of SBI Holdings Yoshitaka Kitao further remarked. 

The alliance between SBI and SIX banks regarding the development of crypto demand across the Asia-Pacific territory, along with rolling out its services to the establishments with proper regulations.

The venture is expected to formalize its operations by the end of this year, as well as begin to make its services available by early 2022, as soon as it receives the regulatory green light from the Monetary Authority of Singapore.

The new undertaking will reportedly roll out a vast array of crypto-asset products and solutions in the form of tokenized securities, nominally digital bonds, digital equities, and digital securitized loans.

SDX chairman reportedly regarded SBI as a natural partner for the joint venture, due to their professional experience in the institutional digital asset market and dominance across the Asian continent. 

Singapore has reportedly undergone major growth to obtain the reputation of an international crypto hub throughout the last few years. 

High-profile crypto exchange platforms such as Binance, FTX, Coinbase, Huobi, and numerous others have established their offices in the nation, during the time regulation is still uncertain across the world.