TOKYO -- SBI Sumishin Net Bank on Wednesday became the first Japanese digital bank to go public, an indication that small online lenders now play a growing role in spreading embedded financial services, the use of stablecoins and other financial technologies.
IPO
Japan digital bank IPO defies market downturn
SBI Sumishin Net Bank is country's first digital lender to list
CEO Noriaki Maruyama says he expects SBI Sumishin's profit growth to double to 20%, now that the company has made all the necessary investments to reach that goal. (Photo by Jun Takai)
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