Japan’s SBI seeks to launch cryptocurrency derivatives platform

A subsidiary of Japanese financial services group SBI Holdings is looking at launching a cryptocurrency derivatives trading platform.

SBI to consider launching a cryptocurrency derivatives trading venue

SBI Crypto Investment, the company’s digital currency and blockchain investment division, has taken a 12% stake in Clear Markets, which develops digital marketplaces.

Clear Markets

Clear Markets is based in North Carolina in the US and is part of Quick Corporation – owned by Japanese media giant Nikkei. It has been registered since launch in 2012 with the Commodity Futures Trading Commission (CFTC) as a swap execution facility – or derivatives trading platform.

With regard to trading cryptocurrency derivatives, Clear Markets chief executive Mark Brickell said: “As much as 50 per cent of cash trading in cryptocurrency has taken pace in Japan, so that is a nice place for us to start.”

Crypto expansion

SBI Group has been active in the cryptocurrency market in recent months, having launched in June the world’s first crypto exchange to be fully backed by a major registered bank. VCTRADE officially opened for business – after delays caused by security concerns – on 17 July.

SBI Crypto Investment has not yet suggested a date on which it intends to launch its derivatives trading platform.