SBI considers partnership with Saudi Arabian oil major Aramco in digital assets and semiconductor fields

Considering partnership related to digital assets

SBI Holdings Co., Ltd. announced on the 7th that it has entered into a basic agreement with Aramco, the Saudi Arabian state-owned oil giant, to consider a business alliance.

Based on the agreement, SBI Group and Aramco plan to consider a business alliance in the following three areas.

• Collaboration in the field of digital assets, joint investment utilizing the digital asset-related investment portfolios of both companies
• Discover Japanese startup companies in the digital asset field that are interested in expanding their business in Saudi Arabia and support their expansion and growth.
• Launching specific projects related to investment in the semiconductor field, such as establishing factories in both Japan and Saudi Arabia

SBI Group and Aramco continue to consider business opportunities in cutting-edge fields such as semiconductors and digital assets, and to contribute to economic cooperation between Japan and Saudi Arabia.

There is no specific mention of whether digital assets include crypto assets (virtual currencies) such as Bitcoin (BTC), or whether they focus on other areas such as real-world asset (RWA) tokenization.

SBI Group is leading the establishment of Osaka Digital Exchange (ODX), which provides security token trading, and may partner with Aramco in this field. The tokenization of real assets is receiving increasing attention from the financial industry.

connection: What is Osaka Digital Exchange, the new PTS market led by SBI? A thorough explanation of its relationship with digital securities

Furthermore, the SBI Group is working to further expand its business in the Middle East region, and also stated that it is preparing to establish “SBI Middle East” as a base.

connection:Why investors are interested in real asset tokenization and what is Real World Assets (RWA)?

100 billion yen fund

The SBI Group has so far invested in various companies through venture capital SBI Investment, including Ripple, which provides the crypto asset (virtual currency) XRP, blockchain company R3, and virtual currency exchanges BitFlyer and Bithumb. .

Furthermore, in November, it was announced that the company will start operating a fund worth up to 100 billion yen that will invest in startup companies such as Web3, AI (artificial intelligence), and Metaverse.

connection: SBI to start operation of fund to invest in emerging companies such as Web3 Up to 100 billion yen = Report

In the blockchain field, Aramco has invested in VAKT, a post-trade solution for the oil sector, Data Gumbo, which provides blockchain operational efficiency, and TradeGo, an electronic bill of lading provider.

The government of Saudi Arabia is also focusing on Metaverse and Web3. In 2022, the company announced that it will invest approximately 840 billion yen or more in multiple cutting-edge technologies, including Metaverse.

Furthermore, it is known that the government’s public investment fund Sanabil Investments has invested in a number of virtual currencies and Web3 VC.

connection: Saudi Arabian investment fund invests in numerous virtual currencies and Web3 VC

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