SBI Crypto Investment Invests In BRD, a Mobile Wallet

SBI Crypto Investment, which is a subsidiary of Japan’s SBI Holdings, is investing in a mobile crypto wallet. The investment is being made in Breadwinner AG, a mobile wallet created by BRD.

The Swiss company Breadwinner AG produces crypto tools. It is believed that SBI Crypto made considerable investment in the venture, but the actual amount invested was not disclosed.

BRD already has operations in 170 countries around the globe and the app has exceeded 1.8 million downloads taking into account both Android and iOS users.

On the contrary, SBI had semi-annual revenues of about $1.6 million last year. Furthermore, SBI Group has a history of investing in crypto related companies. The company has already invested twice in the cryptocurrency exchange LastRoots.

SBI Holdings also owns VcTrade crypto exchange. Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH) tokens are accepted by the firm.

In related story, another SBI Holdings sister company, located in Korea and known as the SBI Savings Bank, also joined a blockchain company in September 2018. The company is Dayli Intelligence, which operates in several ventures with artificial intelligence (AI) and blockchain technology.