Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Companies

SBI will buy a 51% stake of BITpoint from Remixpoint for $98.6 million.

Japanese securities and banking giant SBI Holdings will buy a controlling interest in BITPoint Japan, a crypto trading platform and domestic rival of SBI VC Trade, from its parent company, Cryptonews reported on Saturday, citing Nikkei’s Japanese news service.

SBI will buy a 51% stake of BITpoint from Remixpoint for $98.6 million. BITPoint’s market value was estimated at more than $193 million, the report said.

Remixpoint said it will “form a capital and business alliance” with SBI to expand its business through crypto collaboration, according to the report. SBI will also take a 5% stake in Remixpoint.

The report noted that the deal involves a provision that would entitle Remixpoint to receive future compensation if BITPoint meets a number of financial goals.

Featured

Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...

Ethereum

Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...