SBI Holdings Inc., Japan's largest online brokerage, launched a financial services partnership with SoftBank Group Corp. unit Z Holdings Corp., which operates Yahoo Japan.
The two companies will jointly offer online securities, foreign exchange and banking services, aiming for a seamless integration of their financial platforms, according to an Oct. 10 release. The alliance will enable consumers to access SBI Holdings' financial services through their Yahoo Japan user identities.
The companies are seeking to build synergies between SBI Holdings' 4.8 million online accounts and the 15 million monthly visitors to Yahoo Japan's finance app. They plan to soon enable users of the Yahoo app and website to open brokerage accounts and trade securities with SBI Holdings.
The partnership reflects Z Holding's strategy to make financial services its next big growth area through the Yahoo platform, The Nikkei reported.
