Addition of Cryptocurrencies Available to Depositing and Purchasing on Coincheck (XRP and FCT)
Background and Purpose of the Joint Venture
On the background of immigrant workers increasing in accordance with the globalization, international
money transfer market grows continuously and the market *1 hit a new record, USD 613 billion in 2017 (a
7% increase year over year).
Especially the number of immigrant workers from Asia to Arab nations*2 has increased about tri-fold
since 1990 and immigrant workers has come to reach 35.6%*3 of the workforce in the whole region of Arab
This environment, matches well with the two parties’ strategy to accelerate business growth by
globalization and gaining a foothold in the expanding Arab nations market with a huge labor market and
have agreed to establish a joint venture by joint investment and fusion of mutual strengths. The first task
will be to provide a money transfer service in the Arab nations.
SBI FinSol has a subsidiary, SBI Remit Co., Ltd (Head office: Minato-ku, Tokyo, Representative
Director: Nobuo Ando, hereinafter “SBI Remit”), a large level provider in Japan of international money
transfer services exceeding a cumulative international transfer amount of JPY 500 billion since its
establishment.Crypto space, emphasizing partnerships, regulations and developments with unique attention to Japan and Asia.