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Cryptocurrencies

Derivatives platform to hedge cryptocurrency risk planned by SBI

Japanese group invests in US digital marketplace developer

SBI wants to create a derivatives trading platform for digital currencies like bitcoin and Ethereum.   © Reuters

TOKYO -- A unit of Japanese financial services group SBI Holdings invested in a U.S. developer of digital marketplaces in an effort to create a cryptocurrency derivatives trading platform for institutional investors.

SBI Crypto Investment had as of Monday purchased 12% of North Carolina-based Clear Markets, a stake that is likely worth about 1 billion yen ($9 million). The price was not disclosed.

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