SBI Backs Token Exchange Templum's $10 Million Funding Round

Japanese investment giant SBI Holdings has added an initial coin offering (ICO) platform startup to its cryptocurrency portfolio company.

AccessTimeIconApr 26, 2018 at 5:15 a.m. UTC
Updated Sep 13, 2021 at 7:52 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

SBI Holdings, the venture capital arm of Japanese financial giant SBI Group, has added a stake in token trading platform Templum to its cryptocurrency portfolio companies.

New York-based Templum announced Wednesday that it had gotten backing from SBI, thereby completing a $10 million round of financing. In October, the startup revealed that it had raised $2.7 million in funding from a group of investors that included Raptor Group, Galaxy Investment Partners, Blockchain Capital and firstminute.capital.

Templum is seeking to build a regulation-compliant platform for the sale and trade of digitized assets and securities. According to Templum, the new fund will be used to further develop its services and alternative trading platform.

The new round comes months after the startup has acquired Liquid Markets Group's broker-dealer and alternative trading system Liquid M Capital LLC. At the time, it also unveiled its board of advisors, which includes Troy Paredes, a former commissioner for the Securities and Exchange Commission.

The new investment also marks the latest move by SBI to further diversify its group of cryptocurrency portfolio companies. The Japanese financial giant announced that it had acquired a stake in a Taiwan-based crypto hardware wallet maker, CoolBitX, in March.

As of now, SBI Holdings has already set foot in a range of businesses within the cryptocurrency ecosystem, including ICO platforms, wallet services, and cryptocurrency exchanges, as well as a joint venture with Ripple focused on cross-border remittances.

Marbles image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.