SBI Japan, one of Japan’s leading financial firms, aims to strengthen its business with Ripple for its Web3 studies.
SBI Japan noted that there are new moves in both the crypto industry and Web3 services. One of Ripple’s leading partners and SBI Japan has set out to strengthen its Web3 efforts. The move aims to attract more crypto-related institutional clients, including offerings via Web3 and Ripple, both sides said. Describing Web3 services as “non-financial business”, the company emphasized that it will increase its activities towards the Web3 sector to increase its customer base and revenue.
SBI Japan Weaker Than Last Year
SBI Japan surprised the crypto investor with a report it announced recently. The report shows that the company’s revenue from its crypto-related services was 30.3 billion Japanese yen from April 2022 to March 2023. This represents a 45 percent year-on-year decline from the 55.1 billion yen value since last year.
SBI Japan, which has lost power in the crypto space since 2022, stated that this situation will recover by taking new steps in various areas. SBI Japan, which especially wanted to cooperate with Ripple in the Web3 field, attracted attention in the Ripple ecosystem. Many crypto communities in Japan followed the developments regarding this event.
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