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 <p class="is-style-lead">Japan’s leading cryptocurrency financial group, SBI, and the national oil company of Saudi Arabia, Saudi Aramco, have revealed intentions to explore co-investing in their respective digital asset portfolios, according to a Dec. 11 news release.</p> 
 <p>As part of this initiative, SBI is set to establish ‘SBI Middle East’ in Riyadh, with the goal of fostering the entry of Japanese <a rel="dofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> <a rel="dofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a> startups into Saudi Arabian markets.</p> 
 <h2 class="wp-block-heading" id="support-for-japanese-startups">Support for Japanese startups</h2> 
 <p>On Dec. 7, SBI Holdings&nbsp;disclosed the signing&nbsp;of an agreement for a business partnership with Saudi Aramco, which includes consideration for diverse projects, including the establishment of semiconductor factories in both Japan and Saudi Arabia.</p> 
 <p>The envisioned business alliance between the two entities encompasses three critical areas within advanced technology sectors, such as semiconductors and <a rel="dofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> <a rel="dofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a>s, including collaboration and joint <a rel="dofollow" title="investment" href="https://thebittimes.com/tag/investment.html">investment</a> in the <a rel="dofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> <a rel="dofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a> domain, identification and support of Japanese startups in the <a rel="dofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> <a rel="dofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a> sector seeking expansion in Saudi Arabia, and initiation of various <a rel="dofollow" title="investment" href="https://thebittimes.com/tag/investment.html">investment</a>-related projects, including the establishment of semiconductor factories in both Japan and Saudi Arabia.&nbsp;</p> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Circle partners with SBI Holdings to offer potential stablecoins in Japan 
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 <h2 class="wp-block-heading" id="forging-partnerships">Forging partnerships</h2> 
 <p>Two weeks earlier, SBI Holdings announced another partnership with Circle, the issuer of the second-largest stablecoin, USD Coin (USDC), in which both firms pledged adherence to stablecoin regulations, including communication with authorities.&nbsp;</p> 
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 <p>SBI has sought registration as an electronic payment service as another step towards <a rel="dofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> <a rel="dofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a> development.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Alpaca partners with SBI Holdings after $15m investment 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/sbi-and-saudi-aramco-unveil-plans-for-mutual-digital-asset-investment-tbt73337.html">https://thebittimes.com/sbi-and-saudi-aramco-unveil-plans-for-mutual-digital-asset-investment-tbt73337.html</a></p>

SBI and Saudi Aramco unveil plans for mutual digital asset investment

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