Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Japan’s SBI VC Swings to Profit Amid Rebound in Crypto Sector

Japan’s SBI VC Swings to Profit Amid Rebound in Crypto Sector

Kelly Cromley by Kelly Cromley
Nov 1, 2019
in Market News, News
Reading Time: 2 mins read
0

SBI securities has revealed that its trading revenue soared 19.2% in the half-year period ended September 2019, primarily due to the cryptocurrency investment subsidiary, which swung to a profit of $30 million in the six-month period ended September 2019, compared with a net loss of $7.1 million last year.

The Japanese financial service provider published its latest financial report on October 30 for the six-month period ended September 30, 2019.

The report indicated that SBI Securities’ crypto focused venture capital subsidiary has performed incredibly well despite an overall decline in SBI’s revenue.

As per the report, SBI VC Trade has recorded a strong growth in profit before income tax for the first half of fiscal 2019. From a half-yearly loss of 765 million Japanese yen ($7.10 million) in 2018, the company has swung to a profit of 3.20 billion yen ($30 million) in H1 2019.

SBI Holdings has pointed out that SBI VC Trade, a subsidiary of SBI that operates a cryptocurrency exchange, came under SBI Securities in July 2019. In addition to significant growth of cryptocurrency exchange-led earnings, SBI has also posted a considerable rise in earnings from its crypto mining business SBI Crypto.

The mining business recorded a profit (before income tax expense), of 293 million yen ($2.70 million) in H1 2019, compared to a loss of 783 million yen ($7.20 million) in H1 2018.

SBI has stated that it anticipates a surge in cryptocurrency mining due to the arrival of new miners and also in-house miner operations next year. Earlier in 2019, SBI established exclusive unit for manufacturing cryptocurrency mining semiconductor chips.

As in the case of earlier financial reports, SBI has once again highlighted the rising importance of Ripple’s blockchain powered technology in its payment processing division, SBI Remit. The institution also pointed out the increasing relevance of Ripple’s xCurrent platform based remittances.

SBI stated that its subsidiary SBI Ripple Asia is anticipated to back almost 50% of the total Ripple network soon.

Notably, last month, SBI Securities and five more Japanese brokerage companies including Rakuten Securities have setup Japan Security Token Offering Association.

Previous Post

Bitcoin Reigns Over Master, Visa Cards in Italian e-Commerce Payments

Next Post

Argentine Central Bank Bans Use of Credit Cards for Bitcoin Purchases

Related Posts

nexus-expands-cross-platform-with-four-new-blockchain-games

Nexus Expands CROSS Platform with Four New Blockchain Games

by Kelly Cromley
Jun 18, 2025
0

Nexus has formalized an onboarding agreement with international gaming companies to integrate four blockchain-based games into its open platform, CROSS....

avail-launches-full-stack-to-address-blockchain-scalability-issues

Avail Launches Full Stack to Revolutionize Blockchain Scalability

by Kelly Cromley
Jun 18, 2025
0

Avail, a company focused on modular blockchain infrastructure, has officially rolled out its full Avail Stack, aiming to address major...

global-settlement-facilitates-feniix-tokenized-energy-deal

Feniix Energy Finalizes $75M Oil and Gas Acquisition Deal Using Tokenized Capital

by Kelly Cromley
Jun 18, 2025
0

Latin American energy firm Feniix Energy has completed a landmark $75 million acquisition of a live oil and gas operation,...

my-neighbor-alice-game-launched-on-chromia-blockchain

My Neighbor Alice Launches First Full Game Chapter on Chromia

by Kelly Cromley
Jun 18, 2025
0

The widely recognized blockchain game My Neighbor Alice has officially entered a new phase with the release of Chapter One:...

eigencloud-to-extend-blockchain-grade-trust-to-non-blockchain-apps

EigenLayer Unveils EigenCloud to Bridge Blockchain and Off-Chain Trust

by Kelly Cromley
Jun 18, 2025
0

EigenLayer has taken a significant step forward in overcoming one of the long-standing limitations of blockchain technology by launching EigenCloud,...

Chainalysis to partner Aptos Foundation

Chainalysis and Aptos Join Forces to Tackle Blockchain Threats

by Kelly Cromley
Jun 17, 2025
0

Chainalysis has entered into a strategic partnership with the Aptos Foundation in an effort to strengthen blockchain security through improved...

Next Post
Argentine Central Bank Bans Use of Credit Cards for Bitcoin Purchases

Argentine Central Bank Bans Use of Credit Cards for Bitcoin Purchases

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

nexus-expands-cross-platform-with-four-new-blockchain-games
Market News

Nexus Expands CROSS Platform with Four New Blockchain Games

by Kelly Cromley
Jun 18, 2025
avail-launches-full-stack-to-address-blockchain-scalability-issues
Market News

Avail Launches Full Stack to Revolutionize Blockchain Scalability

by Kelly Cromley
Jun 18, 2025
global-settlement-facilitates-feniix-tokenized-energy-deal
Market News

Feniix Energy Finalizes $75M Oil and Gas Acquisition Deal Using Tokenized Capital

by Kelly Cromley
Jun 18, 2025
my-neighbor-alice-game-launched-on-chromia-blockchain
Market News

My Neighbor Alice Launches First Full Game Chapter on Chromia

by Kelly Cromley
Jun 18, 2025
eigencloud-to-extend-blockchain-grade-trust-to-non-blockchain-apps
Market News

EigenLayer Unveils EigenCloud to Bridge Blockchain and Off-Chain Trust

by Kelly Cromley
Jun 18, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • ETF
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree