Japanese Crypto Exchange TaoTao Agrees to SBI Purchase After Binance Talks End

The all-stock deal bolsters SBI's crypto exchange services in Japan.

Oct 7, 2020 at 2:40 p.m. UTC
Updated Sep 14, 2021 at 10:05 a.m. UTC

Financial conglomerate SBI Holdings' market infrastructure subsidiary, SBI Liquidity Market said Wednesday it has acquired the Japanese cryptocurrency exchange TaoTao from the Z Corporation for an undisclosed sum.

  • TaoTao will become a wholly owned subsidiary of SBILM under the deal's terms.
  • The pair said they intend to utilize each entity's market assets: TaoTao's existing crypto customer base and SBI's knowledge of the financial landscape.
  • The acquisition bolsters SBI's crypto trading operations, currently managed by SBI VC Trade Co.
  • Just yesterday, partnership talks between TaoTao and Binance fell through.
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