SBI Crypto has entered into a partnership with Northern Data for blockchain development. The company, which is a wholly-owned subsidiary of Japanese financial services giant SBI Group, will be among the companies that will be hosted in Northern Data’s Texas facilities. The two will work on projects pertaining to blockchain technology infrastructure and software development.
SBI Crypto will work with Whinstone US Inc., the company that partnered with Northern Bitcoin AG to form Northern Data. Other than partnering in blockchain development, SBI Crypto is also positioned for potential equity participation in Northern Data, the press release revealed.
The partnership is the result of a process that kicked off early last year, the CEO of SBI Crypto, Carson Smith revealed. She stated, “We have been planning with Whinstone and Northern Data for the Texas mining farm since early 2019. I am excited to see the results and to see a continuing strengthening of our relationship that will benefit the ecosystems we are creating.”
Other than crypto mining, SBI Crypto has also been an investor in other crypto ventures. Early last year, the company invested in crypto startup Breadwinner AG, the maker of the BRD wallet. The company has been a key focus for the SBI Group which has sought to solidify its position as one of the world’s largest corporate investor in crypto.
On its part, Northern Data believes that the partnership will accelerate its growth. The CEO, Aroosh Thillainathan remarked, “We are very pleased to have SBI as a great partner and one of the leading international financial and technology holding companies by our side. With its activities to date, SBI Holdings has impressively demonstrated its leadership in the emerging crypto and blockchain industry.