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B3i Further Expands Its Shareholder Base

B3i Further Expands Its Shareholder Base - SBI Group

B3i Further Expands Its Shareholder Base

 

B3i is pleased to announce that the SBI Group has become the latest investor in the company further expanding the shareholder base to 17.

 

Through its fund SBI AI&Blockchain Fund, SBI Group has become the latest investor in B3i. The establishment of this new shareholder relationship reflects the ongoing support by the market for B3i and reinforces its strategy to build a platform and protocol to address critical insurance market needs.

 

The SBI Group of Japan has, since its founding, focused on the establishment of an Internet-based financial ecosystem within securities, banking and insurance and actively drives growth through the aggressive use of new technology. The SBI AI&Blockchain Fund was launched in January 2018 and aims to support open innovation between investors and investee companies, increase the value of investee companies, and actively help investors implement and use new technologies. Through these activities, SBI Group endeavours to help investee companies and investors enhance the services they provide and eventually contribute to the growth and development of new industries.

 

Yoshitaka Kitao, SBI Group CEO said “B3i is a great showcase of the insurance industry using blockchain technology based upon R3’s Corda. Synergy can be expected between B3i and SBI Group as well as SBI’s other investee companies.”

 

Antony Elliott, Chairman of B3i commented “We are very pleased to see SBI joining our growing community of shareholders. With its strong background in supporting Fintech start-ups, SBI will bring a depth of experience to the company and offer opportunities for expanding global partnerships with associated businesses.”

 

We look forward to deepening our relationship with the wider SBI Group and the Japanese market as we explore the application of B3i’s offerings in the Japanese insurance sector and beyond”.

 

 

To download the full media release, click here.

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