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SBI Japan Looks to Strengthen Web3 Business to Attract Institutional Clients and Expand Crypto Offerings with Ripple

SBI Japan, a leading financial firm and Ripple partner in Japan, is aiming to strengthen its Web3 business to attract more institutional clients through crypto-related offerings and comprehensive Web3 services.

According to the company's recent annual investors report, SBI Japan's revenue for its crypto-related business declined by 45% YoY, prompting the firm to focus on expanding its reach in the Web3 sector to increase its customer base and revenue.

The company plans to bolster its Web3 offerings and crypto-related services by focusing both businesses on SBI VC Trade, including Ripple's ODL, which is offered to clients through SBI Remit. As part of expanding its Web3 business, SBI Japan released its Web3 Wallet product in January and formed partnerships with Web3 firms Oasys and Turingum.

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