At the Satoshi’s Vision Conference in Japan Bitcoin.com’s Jake Smith interviewed Jerry Chan the lead executive for SBI Group’s fintech arm ‘SBI Bits.’ Chan explains what SBI Bits is involved in and how it had embraced blockchain technology and cryptocurrency solutions. The firm has recently launched a mining pool that’s processing bitcoin cash blocks alongside building a cryptocurrency exchange.
Also read: New Study: 80% of ICOs are Scams, Only 8% Reach an Exchange
SBI Bits Executive Jerry Chan Talks Bitcoin Cash
Jerry Chan
SBI Group is one of the first Japanese financial institutions to start getting involved with bitcoin and cryptocurrency applications. The company executive Jerry Chan leads the firm’s fintech subsidiary that builds technological platforms and business tools for large-scale institutions. SBI Bits is excited about the development surrounding the bitcoin cash ecosystem, and Chan explains a few reasons why to our host Jake Smith.
“SBI Bits is like a fintech internal vendor we do all of our technology internally within SBI Group. So our bread and butter business is exchange platforms, core location or anywhere where the profit center companies require technology. SBI is a larger financial group and has online stock trading and liquidity markets,” explains Chan.
SBI Group is the first financial services conglomerate in Japan that has gotten really big into bitcoin, blockchain, and associated technologies. As you may have heard GMO, DMM, which are more media technology rooted companies, are also getting into [them] in their own way.
An SBI Bits Backed Cryptocurrency Exchange Coming Soon
SBI Bit’s leader details that the company is also in the midst of constructing a cryptocurrency exchange. The exchange will be built by SBI but will likely be licensed to other
