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SBI links to China's Huobi for virtual-currency launch

Japanese group eyes secure trading system for platform opening next year

TOKYO -- SBI Holdings is forging a capital tie-up with cryptocurrency trading platform Huobi to tap the Chinese company's expertise in exchange systems and operational know-how as it prepares to launch its own bourse early next year.

Huobi will take a 30% stake in SBI Virtual Currencies, a unit of the Japanese group, while SBI will purchase 30% and 10% interests in the Chinese partner's Japanese and South Korean subsidiaries, respectively.

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