Japanese financial services giant SBI Holdings has established a new subsidiary to manufacture chips and systems.
The new venture, SBI Chip Co. (SBIMC), is a part of SBI’s strategy on digital assets-related businesses, according to an on Friday
SBIMC will be carrying out the development and manufacturing of miners in partnership with an unnamed “large” semiconductor enterprise in the U.S., said SBI.
The new venture will be led by former NASA veteran Adam Traidman, who has a “high level of expertise in the field of leading-edge semiconductors and other electronics.”
Traidman has a total experience of over 20 years and has served as CEO of Chip Estimate (acquired by Cadence Design Systems, Inc. in 2008) and WearSens (Wearable device developer specialized in dietary monitoring) in the past. He also served as CEO of BRD, in which SBI Group has invested, according to the announcement.
SBI Group, through its subsidiary SBI Crypto, started a for cash (BCH) last year, but is no longer the .
The group its interest in the industry back in 2017. At the time, the firm said it is looking to acquire directly, including through , as well as establishing ways of using and providing investment opportunities.
Over the years, the firm has ventured into several areas within the industry, including establishing regulated exchange last June, and launching -based money transfer app in partnership with back in October.
Earlier this year, the group invested in Swiss startup Tangem, maker of a slimline hardware for . It also recently a joint venture with consortium startup R3 to boost the of R3’s Corda platform in and beyond.
image via Shutterstock
Published at Fri, 22 Mar 2019 10:18:48 +0000
