SBI Holdings, one of Japan’s largest financial conglomerates, has partnered with Oasys, a blockchain platform designed specifically for Web3 gaming.
According to a press release shared with Cointelegraph, the partnership also includes a successful round of funding from SBI Holdings to improve the liquidity of the Web3 gaming platform’s native token.
Yoshitaka Kitao, representative director, chairman, president and CEO of SBI Holdings, stated that the firm would “endeavour to further expand the use cases for blockchain technology” through the partnership.
“Oasys is a highly promising project as a blockchain from Japan specifically designed for use in gaming. From its inception, it has included several globally renowned major game development companies as initial validators.”
Related: Japan crypto ETFs boosted by Franklin Templeton and SBI Holdings partnership
Partnership history
Oasys has collaborated with several major gaming firms as validators, contributing to the development of blockchain games scheduled for release later in 2024.
The Web3 gaming platform previously integrated SBI VC Trade and the SBINFT Market, signaling a growing strategic relationship between the two entities.
In a written Q&A with Cointelegraph, Tomohiko Kondo, representative director and CEO of SBI VC Trade, stated that Oasys is one of Japan’s “most anticipated” Web3 projects:
“SBI has invested in double jump.tokyo, the primary developer of the Oasys chain, creating a strong potential for synergy.”
Related: Web3 CEO outlines Bitcoin’s role in AI data provenance
Blockchain gaming implications
In the Q&A, Kondo stated that “as more and more games are launching on Oasys,” the conglomerate is now “aligned” with interests serving both entities. He added:
“We believe supporting Oasys will leverage the growth of the Web3 industry in Japan.”
Kondo stated that the firm aims to “accelerate Oasys’s growth” through “close collaboration between Oasys and “the various group companies and functions within the SBI Group.”
Related: This is how Web3 gaming aims to take over traditional platforms
SBI Holdings partners with Frank Templeton
On July 26, SBI Holdings partnered with Frank Templeton, one of the largest asset management firms globally, to establish a cryptocurrency exchange-traded fund management company.
The entities signed a memorandum of understanding to confirm the joint venture, establishing the new Japanese asset management firm to offer investment opportunities to a “new generation of investors.”
Jenny Johnson, the president and CEO of Franklin Templeton, explained that SBI’s “extensive reach” aligned well with Templeton’s commitment to helping investors.
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