# SBI Holdings, R3 to establish joint venture to promote Corda blockchain platform in Asia

By Shampa Mani

Canonical URL: https://www.tokenpost.com/news/business/871
Published: 2018-12-07T03:22:43.000Z
Updated: 2018-12-07T03:22:43.000Z
Section: Business

> Japanese financial services giant SBI Holdings is going to establish a joint venture with U.S.-based enterprise blockchain software firm R3 in January 2019, Nikkei reported.

Japanese financial services giant SBI Holdings is going to establish a joint venture with U.S.-based enterprise blockchain software firm R3 in January 2019, [Nikkei](<https://www.nikkei.com/article/DGXMZO3857284005122018EE9000/>) reported.

The new venture will aim to promote R3’s Corda blockchain platform in Asia, including Japan, R3 CEO David Rutter said at a recently held press conference.

“Europe is the most advanced in blockchain product development,” R3 CEO David Rutter told Nikkei (as quoted by [Cointelegraph](<https://cointelegraph.com/news/sbi-holdings-r3-embark-on-joint-venture-to-boost-corda-blockchain-use-in-asia>)). “The new joint venture will strengthen the Japanese language service, and promote adoption.”

SBI Holdings [joined](<https://www.econotimes.com/SBI-Holdings-First-To-Join-R3-Blockchain-Consortiums-Second-Round-of-Partnerships-179316>) the blockchain consortium led by R3 back in 2016. Earlier this year, SBI Bank, the Russian commercial banking subsidiary of SBI Holdings, [also joined the consortium](<https://www.econotimes.com/R3-blockchain-consortium-welcomes-Japanese-banking-giant-SBIs-subsidiary-1254704>) to introduce new innovative financial services that utilize Corda in Russian market.

SBI Holdings have been actively involved in a number of crypto and blockchain initiatives. This includes the setting up of a joint venture with blockchain startup Ripple, called SBI Ripple Asia, and the launch of its [virtual currency exchange](<https://www.econotimes.com/Japans-SBI-Holdings-opens-VCTRADE-cryptocurrency-exchange-to-public-1404405>), VCTRADE, to the public.

In September 2018, SBI Holdings, in collaboration with tech startup Orb, announced that it was going to start the [trial of “S coin”](<https://tokenpost.com/Japans-SBI-to-trial-crypto-token-S-coin-for-retail-payments-via-smartphones-444>) which it describes as “a settlement coin that allows charge and settlement on smartphone.”



## Links in this article

- [Nikkei](https://www.nikkei.com/article/DGXMZO3857284005122018EE9000/)
- [Cointelegraph](https://cointelegraph.com/news/sbi-holdings-r3-embark-on-joint-venture-to-boost-corda-blockchain-use-in-asia)
- [joined](https://www.econotimes.com/SBI-Holdings-First-To-Join-R3-Blockchain-Consortiums-Second-Round-of-Partnerships-179316)
- [also joined the consortium](https://www.econotimes.com/R3-blockchain-consortium-welcomes-Japanese-banking-giant-SBIs-subsidiary-1254704)
- [virtual currency exchange](https://www.econotimes.com/Japans-SBI-Holdings-opens-VCTRADE-cryptocurrency-exchange-to-public-1404405)
- [trial of “S coin”](https://tokenpost.com/Japans-SBI-to-trial-crypto-token-S-coin-for-retail-payments-via-smartphones-444)