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SBI Holdings introduces crypto asset fund for Japanese investors

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One of Tokyo’s biggest financial services companies, Strategic Business Innovator (SBI) Group, launches a crypto asset fund, allowing Japanese investors to trade digital currencies. The new project is said to include seven cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Polkadot (DOT), Ripple (XRP), Chainlink (LINK) and Bitcoin Cash (BCH).

Led by SBI Alternative Fund, the cryptocurrency fund was released on December 02, 2021 with a total capital of JPY¥5,000,000, which is equivalent to 43,968.22 as of the moment. The financial services company is now calling it Japan’s first-ever crypto fund for general investors.

The investors, however, will be obliged to undergo an application process that contains an anonymous partnership with SBI Alternative Fund, according to the official statement released by the firm. This application period to utilize the new service will start on December 17, 2021 and end on January 31, 2022. As reported by the press release, every crypto in the fund has a 20% ratio, but a rebalancing of assets will take place after maturity.

‘Since it is not suitable for all customers, it can only be purchased by customers who meet certain standards set by our company’, the company emphasized.

SBI Holdings has announced that the crypto fund opened by investors is not subject to cancellation within a year, between February 1, 2022 to January 31, 2023. However, along with audit expenses and liquidation values, investors will also carry additional taxes that will be deducted from the investment.

The company has specified an age limit between 20 to 70 and imposed a three-month period for every crypto purchase to lessen the investment risks, according to the rules established by SBI VC Trade.

However, this is not the first time SBI Holdings has entered the crypto sphere. In July this year, the financial firm collaborated with Ripple to launch an On-Demand Liquidity (ODL) service to expand cross-border transactions from Japan. It has also acquired a UK-based cryptocurrency trading firm called B2C2, making them the first financial service to launch a digital asset dealing desk.

Just recently, SBI Holdings has disclosed a joint investment in Coinhako, a crypto exchange site in Singapore.

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