Z Corporation has exited its 40% stake in crypto trading exchange TaoTao in an acquisition by SBI.
SBI, a Japan-based financial services group, has acquired its second licensed cryptocurrency trading platform, TaoTao, for an undisclosed amount, providing an exit for corporate venturing backer Z Corporation.
SBI’s foreign exchange and derivatives division, SBI Liquidity Market, bought all of TaoTao’s shares. Z Corporation, a subsidiary of Z Holdings (formerly known as Yahoo Japan and itself owned by internet conglomerate SoftBank), reportedly owned 40% of TaoTao but has not disclosed when it invested.
Founded in 2017, TaoTao launched its crypto…
