SBI Holdings Inc., one of Japan’s largest financial conglomerates, has taken a significant step into the blockchain gaming industry through a new partnership with the Oasys blockchain network. The Tokyo-based financial giant, known for its traditional finance operations, has invested an undisclosed amount in Oasys as part of its ongoing efforts to integrate blockchain technology into its services.
Founded in 1999, SBI Holdings has expanded its portfolio over the years to include asset management, venture capital, and even its own cryptocurrency exchange, SBI VC Trade. The latest investment marks a notable expansion into the gaming sector, with a focus on enhancing “synergies” with game tokens on the Oasys blockchain.
Oasys, which has partnered with major gaming companies like Sega and Ubisoft, has been gaining traction in the gaming industry. Earlier this year, the blockchain network teamed up with Com2uS to bring popular game franchises such as Summoners War: Chronicle and The Walking Dead: All Stars onto its platform. Oasys has raised approximately $20 million since 2021 through multiple funding rounds, attracting investments from companies like Hyperithm, a digital asset financial service provider backed by Coinbase, Samsung, Kakao, and Hashed.
SBI CEO Yoshitaka Kitao highlighted the potential of the Oasys network, noting its early collaboration with globally recognized game developers. This partnership builds on an earlier collaboration between SBI and Oasys on an NFT initiative, though the value of NFTs has seen a significant decline recently.
SBI’s move into blockchain gaming is part of a broader trend among traditional financial institutions exploring the potential of blockchain technology. Since 2016, SBI has been involved in the blockchain space, notably through the creation of SBI Ripple Asia and participation in the R3 blockchain initiative. Other financial giants like JPMorgan Chase and BlackRock have also ventured into the sector, investing in blockchain and cryptocurrency products as they seek to enhance transparency, security, and efficiency in financial services.
According to Deloitte’s 2024 banking outlook report, the integration of blockchain-based technologies, including stablecoins backed by fiat currency, is beginning to reshape consumer payments. SBI’s investment in Oasys reflects a strategic move to stay at the forefront of this evolving landscape, as the lines between traditional finance and digital finance continue to blur, paving the way for a more interconnected and innovative financial system.
Related Topics:
