SBI Holdings acquires 40% stake in bitcoin options firm bcause
SBI Holdings, a Japanese financial services holding company and US-headquartered and pending regulated bitcoin derivatives exchange bcause LLC, announced today the closing of a Series A equity round in which SBI Holdings has agreed to be the lead investor.
In this round, SBI Holdings has agreed to acquire a 40% holding in bcause LLC and to provide significant amounts of cryptocurrency mining gear to be co-located at bcause’s mining operations in Virginia Beach, Virginia. Additional equity investments will be contributed by bcause’s existing equity members and other interested parties.
For the Series A, ASGARD Partners & Co. was appointed as Strategic and Capital Markets Advisor and Castle Placement acted as exclusive placement agent.
“Our investment into bcause will help them become the first US-regulated Designated Contracts Market exchange in the cryptocurrency derivatives market in the United States that can be provided for retail investors and will support the creation of a digital currency ecosystem in the strategic US market. This is an important, long-term partnership that will advance the development and widespread use of digital currencies around the world.”
“We are really excited to partner with SBI Holdings. Their success in Asia is well respected and we are honored to have them as both an investor and a strategic partner. Their deep experience operating markets in Asia sets them apart from the many other potential investors that we considered. This investment and this partnership will allow bcause to bring multiple pieces of the missing puzzle to the cryptocurrency ecosystem. Today, if you hold Bitcoin or any altcoin, and want to hedge the risk of holding that currency, your options are virtually non-existent. In a world with bcause, you will be able to mine coin, buy, and sell on our spot market, and once approved by the Commodity Futures Trading Commission, be able to buy and sell a variety of derivative product types that will allow you to mitigate the risks from price fluctuations.”
