<span style="font-weight: 400"><a href="https://www.cryptoknowmics.com/news/sbi-holdings-planning-to-set-up-blockchain-based-digital-stock-exchange/">SBI Liquidity Market</a>, the foreign exchange and derivatives arm of SBI, has recently announced that it has acquired all the shares of <a href="https://www.cryptoknowmics.com/news/binance-partnership-with-taotao-ended-without-agreement/">TaoTao</a>. With this announcement, it is clear that the firm is now having two licensed crypto trading platforms on its platform. With this acquisition, TaoTao has become the completely owned subsidiary of the firm. </span>
<h2><b>SBI Will be Able to Provide Better Crypto-Related Services</b></h2>
<span style="font-weight: 400">TaoTao had launched its<a href="https://www.sbigroup.co.jp/news/2020/1007_12150.html"> crypto trading service</a> back in 2019 and it has been received very well by the users. Now with its acquisition by SBI, it could be seen that it is having two crypto trading platforms. The firm has been providing its crypto trading services through SBI VC Trade. </span>

<span style="font-weight: 400">It is believed that with this acquisition of TaoTao, there will be a huge contribution to the expertise of the firm to provide better crypto-related services.</span>
<h2><b>TaoTao Officially Ended Negotiations With Binance</b></h2>
<span style="font-weight: 400">This announcement of the acquisition of TaoTao by SBI is coming shortly after the exchange has ended its negotiations with Binance. Both Binance and TaoTao have been looking to launch a crypto trading platform in Japan and this would have been a major step for Binance to expand its Japanese market. Both the firms have been discussing this collaboration since January 2020 and now its closure seems to be quite devastating for both of them. </span>

<span style="font-weight: 400">Even though the ending of negotiations has been announced clearly, it is still not clear why this step has been taken by the firms to end the negotiations. This step was taken by the firm on October 05 and it is believed that there might not be any further negotiations. This also indicates that Binance will not be able to enter the Japanese crypto market anytime soon as it has been facing a lot of other hardships. Also from the Japanese regulators that prevent it to enter the crypto industry of the nation.</span>

SBI Liquidity Market Acquires All Shares of TaoTao

SBI Liquidity Market, the foreign exchange and derivatives arm of SBI has recently announced that it has acquired all the shares of TaoTao.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

SBI Liquidity Market Acquires All Shares of TaoTao

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