SBI looking to launch Second crypto fund in Japan by December : Reports

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According to the revolving reports in the crypto market, SBI may launch their second crypto fund in Japan. But right now the launching of a second crypto fund will depend upon the first fund’s success.

SBI, a Japanese financial conglomerate, is currently giving Investment exposure to crypto through their crypto fund. 

On Thursday, a Bloomberg report claimed that SBI may launch their crypto fund by November of this year. And the facility to use their crypto fund will be allowed for the Japanese residents only. 

In the crypto fund, they will allow options of   Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), XRP, and a few other flagship crypto assets. 

A director and senior managing executive officer at SBI, Tomoya Asakura, stated that the company can achieve many hundred million dollars. And right now they are planning to allow the Investment with a minimum 1-3 million yen, or $9,093-$27,279. 

Asakura further added 

“I want people to hold together with other assets and experience firsthand how useful it can be for diversifying portfolios”

It should be noticed here that the launching probability is huge but still there are many things which will bring few problems to launch in the early stage and that will end up in late launching, because all the companies are required to have approval & license by the Financial Services Agency, And also the same rule is applicable on the regulators also.

Read also: Japanese e-commerce behemoth’s Rakuten Wallet will resume XRP margin