Ripple Partner SBI Buys $50M Stake in Circle Post-IPO
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Key Notes SBI Group announced its strategic investment of $50 million in CRCL shares. The Japanese financial firm allocated its investment evenly across SBI Holdings and its subsidiary, SBI Shinsei Bank. The recent development further expands SBI Group’s existing partnership with Circle. On June 9, Japanese financial giant SBI Group announced its strategic investment of $50 million in Circle Internet Group (NYSE: CRCL) in its initial public offering (IPO). The Tokyo-based firm allocated its investment evenly across SBI Holdings and its subsidiary SBI Shinsei Bank. SBI Group Expands a Two-Year-Old Partnership With Circle According to a Nikkei report, SBI Group, a major partner of Ripple Labs XRp $2.28 24h volatility: 0.6% Market cap: $133.97 B Vol. 24h: $2.95 B , acquired 5% of the 34 million shares that Circle offered during its IPO. This accounts for up to 170,000 CRCL shares. The latest development reflects the growing alliance between SBI Group and the stablecoin issuer, following a business agreement signed in November 2023. Back then, Circle inked a partnership deal with SBI Holdings to expand its presence in Japan. By signing a memorandum of understanding (MoU) with a Tokyo-based financial services conglomerate, the firm sought to broaden the adoption of its USDC stablecoin and the Web3 ecosystem outside the United States, where Circle is headquartered. It is worth noting that the Japanese government had just introduced its revised Payment Services Act around that time. It aimed to establish a clear regulatory framework for issuing and using stablecoins in the country. Since then, their business relationship has blossomed, moving into collaborative efforts across various sectors of digital finance. SBI VC Trade Offers USDC Publicly Earlier this year, SBI VC Trade, the crypto unit of SBI Group, commenced a USDC stablecoin service. This made it the first platform in Japan to offer…
Filed under: News - @ June 10, 2025 4:23 pm