Japanese financial giant SBI Holdings on Wednesday announced the acquisition of the local licensed cryptoexchange TaoTao. It is part of SBI Liquidity Market, a division specializing in foreign exchange and derivatives trading.
Previously, the Yahoo Japan division held a 40-protect stake in TaoTao. TaoTao began servicing the cryptocurrency market in May 2019.
With the latest expansion, SBI now controls two platforms for cryptovoltaic trading. In July 2019, it launched SBI VC Trade based on its SBI Securities division.
"In the future, we will maximize the resources of SBI Group as an inclusive financial group, customer base and experience in servicing the trading of cryptographic assets, which TaoTao has been gaining all this time," - says the report.
Earlier it became known that TaoTao has stopped negotiations with the Binance exchange regarding potential cooperation to enter the Japanese market.