SBI Holdings’s subsidiary, SBI Global Asset Management signed a memorandum with Gold Bullion Internatioal LLC. on establishment of a merger company which will provide a platform enabling real-time gold spot trades 24/7 in Japan. SBI Global Asset Management invest will hold 60% and Gold Bullion International will hold 40% of the new company.
Gold Bullion International is a leading institutional precious metals provider to Individual investors and the wealth management industry. The company’s technology platform allows clients to acquire and manage their precious metals assets directly through the company or through their existing wealth management account relationship. In addition to the platform, the company consistently provide storage, delivery, insurance, audit services of gold bullion. Their platform for gold trades has been introduced by leading financial institutions in the world such as The Royal Mint, UBS, and Merrill Lynch.
SBI Global Asset Management stated in the press release that through the merge company, the company aims to provide Gold Bullion International’s trading platform to Japanese securities companies including SBI Securities, and deliver real-time gold spot 24/7 trading to individual investors, while there are very few services which deliver real-time spot trading in the country. The company also plans to expand their services for institutional investors who have increasing holdings ratio of gold.
(Source: SBI Holdings )