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Daiwa Securities Partners with Penguin Holdings to Expand Crypto Services

Strategic investment targets tech-savvy, affluent investors with upcoming cryptocurrency derivatives
Japan
d 8601.TSE Mid and Small Cap 2000
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Daiwa Securities Group is strategically aligning with Penguin Securities Holdings, a Singapore-based cryptocurrency startup, to cater to the surging interest in digital assets among affluent, young investors globally. The collaboration, though details of the financial commitment remain undisclosed, involved Daiwa investing approximately 1 billion yen ($6.65 million) for a substantial stake in Penguin. This investment underscores Daiwa’s commitment to diversifying its portfolio in the fintech sector.

Penguin Securities, established in early 2023 by a team of Japanese entrepreneurs, is setting its sights on launching cryptocurrency derivatives by late 2024. Their roadmap also includes initiating a cryptocurrency exchange and brokerage services shortly. This partnership is poised to blend Daiwa’s robust financial product offering, including equities and bonds, with Penguin’s innovative cryptocurrency solutions, thereby enriching the financial options for Singapore’s wealthy, digitally savvy demographic. Daiwa is poised to integrate Penguin’s upcoming crypto services into its Singaporean portfolio, reflecting a forward-thinking approach to meeting the evolving preferences of younger investors.

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