The post SBI Holdings embraces blockchain gaming, invests in Oasys appeared on BitcoinEthereumNews.com.

The latest deal in the blockchain space will mesh old-school finance with next-generation gaming. SBI backs Oasys SBI Holdings Inc., founded in 1999, is touted as one of the largest financial conglomerates in Japan. It specializes in financial services, asset management, biotechnology, and venture capital. Over the past few years, the firm started integrating blockchain technology into traditional finance. It even developed its own cryptocurrency exchange called SBI VC Trade. As of Aug. 29, a new segment is being added to its portfolio via a partnership with the Oasys blockchain network: gaming. The Tokyo-based firm invested an undisclosed amount in Oasys, promising to enhance “synergies” with the game tokens on the blockchain. “From its inception, [Oasys] has included several globally renowned major game development companies as initial validators,” SBI CEO Yoshitaka Kitao said in a blog post. Earlier the year, SBI and Oasys had partnered on an NFT initiative. But it’s worth noting that NFTs, or non-fungible tokens, are plummeting in value. In contrast, Oasys shows more promise by making in-roads with video game companies. The Oasys network has affiliations with household names like Sega and Ubisoft. In February, Oasys partnered with Com2uS to integrate several game franchises, including ‘Summoners War: Chronicle’ and ‘The Walking Dead: All Stars,’ onto the Oasys network. So far, Singapore-based Oasys raised a total of $20 million over the course of three rounds since it launched in 2021. In addition to SBI, Hyperithm — a Tokyo- and Seoul-based digital asset financial service provider backed by Coinbase, Samsung, Kakao and Hashed — also invested an undisclosed amount. Tradfi’s new territory This isn’t the first time SBI has expressed interest in digital tokens or blockchain technology. In 2016, SBI created a new company called SBI Ripple Asia, which expanded the use of Ripple (XRP) products throughout China,…

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Filed under: News - @ September 1, 2024 8:09 pm