In a notable development within the blockchain sector, SBI Holdings Inc. has invested in the blockchain gaming startup Oasys, marking a significant convergence of traditional finance and the burgeoning world of gaming.
SBI Backs Oasys in New Investment
SBI Holdings, a prominent financial conglomerate in Japan established in 1999, has been expanding its presence in blockchain technology. The company, known for its traditional finance operations including asset management and venture capital, recently ventured into blockchain gaming with an investment in Oasys.
The Tokyo-based firm has invested an undisclosed amount in Oasys, aiming to leverage synergies with blockchain-based game tokens. SBI Holdings CEO Yoshitaka Kitao confirmed the investment in a blog post, highlighting Oasys’s engagement with major game development companies as initial validators.
Oasys and SBI’s Growing Collaboration
Earlier this year, SBI and Oasys collaborated on an NFT initiative, though the NFT market has seen a decline in value recently. Despite this, Oasys is showing strong promise in the gaming sector. The Oasys network boasts affiliations with major names such as Sega and Ubisoft and has recently partnered with Com2uS to integrate popular game franchises like ‘Summoners War: Chronicle’ and ‘The Walking Dead: All Stars’ onto its platform.
Since its inception in 2021, Oasys has raised approximately $20 million across three funding rounds. Alongside SBI’s investment, the startup has also received backing from Hyperithm, a digital asset financial service provider supported by Coinbase, Samsung, Kakao, and Hashed.
Traditional Finance Meets Blockchain Innovation
SBI Holdings’ investment in Oasys underscores a broader trend of traditional financial institutions exploring blockchain technology. In 2016, SBI established SBI Ripple Asia to promote Ripple (XRP) products across Asia and participated in the R3 blockchain consortium.
Similarly, other traditional finance giants are embracing blockchain. JPMorgan Chase continues to develop its Onyx segment to integrate blockchain into financial services, while BlackRock and Fidelity are offering cryptocurrency exposure through Bitcoin ETFs and digital asset funds.
According to Deloitte’s 2024 banking outlook, blockchain-based stablecoins are increasingly entering consumer payments, signaling a shift towards a more integrated financial system where traditional finance and blockchain technology converge.
By investing in Oasys, SBI Holdings is positioning itself at the forefront of this integration, bridging the gap between traditional finance and the innovative realm of blockchain gaming.
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