Japanese firm to set up blockchain stock exchange

SBI Holdings, a Japanese financial giant and a major blockchain-focused institution, is setting up a blockchain-based digital stock exchange, Cointelegraph reports.

Yoshitaka Kitao, president and CEO at SBI Holdings, announced the company’s plans to collaborate with Osaka Prefecture to establish a new global financial hub.

The new international financial center will be located in Osaka and Kobe, Nikkei reports.

SBI is planning to launch a digital stock exchange based on blockchain technology. The exchange is expected to attract global fintech companies and help drive the development of the financial hub.

Kitao emphasized that the establishment of the Osaka financial hub is the “last chance” for the city to “gain the status of an international financial center.”