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Japanese Banking Giant Invests $15 Mln in Mobile Crypto Wallet
Cryptocurrency wallet provider BRD has raked in $15 mln during its second funding round. The substantial investment comes from SBI Crypto Investment (a subsidiary of Japan’s premier banking services SBI Group).
A springboard for Asian expansion
BRD currently operates in 170 countries, boasting more than 1.8 mln downloads on the most popular mobile platforms (its user base witnessed a two-fold increase in 2018). With the help of the recently raised funds, the startup wants to continue its expansion into the enticing Asian market. BRD CEO Adam Traidman claims he’s ‘overly excited’ about the partnership, which will help to propel their international expansion.
Earlier this week, SBI Group also invested in another Switzerland-based cryptocurrency startup called Tangem, which creates smart card crypto wallets.
Asia dominating the crypto market
As U.Today reported earlier, more startups are tapping the Asian market given that Japan and South Korea are among the biggest crypto hubs in the world. To put this into perspective, the Japanese Yen (JPY) is on the cusp of surpassing in Bitcoin trading. TechCrunch founder urged US regulators to act faster in order to lag behind other major crypto markers.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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