The collaboration between SBI Holdings and Saudi Aramco

The collaboration between SBI Holdings and Saudi Aramco

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by Max Nevskyi

3 years ago

SBI Holdings and Saudi Aramco have announced their intention to explore potential collaboration in the areas of digital assets and semiconductors. Additionally, SBI plans to establish an operational base in the Middle East named "SBI Middle East" in Riyadh. It's worth noting that both companies mentioned digital assets but did not specify what exactly they mean by this term and did not mention cryptocurrencies. It's possible that the focus will be on tokenization, in which SBI has significant expertise. SBI Holdings is the founder of the Osaka Digital Exchange, which plans to trade tokenized securities.

Saudi Aramco also has certain investments in blockchain technology, including projects like VAKT, which is a post-trade solution for the oil sector, and Data Gumbo, which uses blockchain to enhance operational efficiency.

Additionally, there is the Sanabil Fund, which is owned by the state investment fund and is an indirect investor in cryptocurrencies. This fund primarily invests in other funds, including venture capital, and has commitments to several major investors with cryptocurrency portfolios, such as Andreessen Horowitz, Coatue, and Tiger Global.

SBI Group, whose full name is Strategic Business Innovator Group, is a group of companies that provide financial services and are pioneers in online financial services. The company was founded in 1999 and created the world's first online ecosystem for financial services, including securities operations and online banking services. SBI Holdings Group brings together over 250 fintech companies, high-tech projects, and biotechnology projects in Asia and is a leader in online banking and blockchain technology. The company also manages assets and invests in venture projects and biotechnology.

Saudi Aramco, or Saudi Arabian Oil Company, is the national oil and gas company of Saudi Arabia and manages all of the country's energy resources. The company owns and operates more than 100 oil and gas fields, including the world's largest fields, Ghawar and Safaniya-Hafji. Saudi Aramco also has its own refining capacity, distribution system, and tanker fleet, and it actively invests in the global oil and petroleum market, including China, Japan, South Korea, and the United States. The company is 100% owned by the government of Saudi Arabia.

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