Japan's SBI Holdings injects $20m into API software firm OpenLegacy

SBI will use the technology to establish the blockchain-based payment app MoneyTap.

Japanese financial services firm SBI Holdings has invested $20m into API integration software company OpenLegacy, according to a news release.

SBI will use OpenLegacy to build Internet banking across its portfolio of Japanese banks and establish blockchain-based payment app MoneyTap.

By directly connecting to legacy systems, OpenLegacy automatically generates microservice-based APIs and deploys on-premises or in the cloud, therefore reducing time, cost and risk commonly associated with digital transformation.

The software further enables seamless integration into existing or new DevOps pipelines due to its compatibility with modern code development practices.