With the latest ETF applications, interest in cryptocurrencies has increased, and major companies have taken action anticipating that demand will further rise with the expected ETF approvals. In line with this, news came of a new agreement signed by the world’s second-largest company, Saudi Aramco, with SBI Holdings.
The agreement covers many issues, including the establishment of semiconductor factories in Japan and Saudi Arabia. The deal, aiming to expand cooperation in the field of digital assets, will focus on three main areas.
These three main areas are: collaboration and joint investment in digital assets, exploring and supporting Japanese ventures that want to expand their business in Saudi Arabia, and semiconductor projects that include the construction of factories in both countries.
The SBI Group is working on ventures in the Middle East and includes establishing a joint investment fund with local partners. Thanks to this agreement, SBI will be able to invest in digital asset portfolios and receive support for early investment opportunities from Asia’s leading crypto player.
Cryptocurrencies involve not just token prices but also the nascent world of Web3. Over the years, thousands of different products have been launched in hundreds of fields, from decentralized finance to the tokenization of real-world assets. These efforts are steps taken for the transformation of the current internet era, Web2, into Web3. Future Web3 giants will be companies that are little known today or have not yet been born. Many trillion-dollar companies like Aramco are looking for early opportunities to prepare for this future.