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

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.

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.

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.

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