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.
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.