Financial conglomerate SBI Holdings’ business technology unit SBI Liquidity Business said Wednesday that it purchased the Japanese cryptocurrency exchange TaoTao from Z Corporation for an undisclosed amount.
Within the conditions of the arrangement, TaoTao will be a wholly owned subsidiary of SBILM.Â
The pair said they plan to use the business assets of each entity: TaoTao ‘s current crypto user base and SBI ‘s understanding of the financial environment.Â
The acquisition enhances SBI’s crypto trading activities, currently controlled by SBI VC Trade Co.Â
Only yesterday, the collaboration talks between TaoTao and Binance were over.