SBI Holdings posted pre-tax profits of about 119.6 million USD, representing a remarkable 787% increase from the previous year, driven by surging revenues from their crypto business.

The firm aims to list USD Coin (USDC), potentially becoming the first exchange in Japan to do so. Its crypto units generated approximately 62.8 billion yen, reflecting a 103.5% year-on-year growth.

SBI anticipates exceeding 600 billion yen in combined revenue from its crypto exchanges in the current quarter, supported by an expanded customer base as it integrates DMM Bitcoin customers.