Japanese SBI Holdings has confirmed the launch of its own cryptocurrency exchanges

Japanese SBI Holdings has confirmed the launch of its own cryptocurrency exchanges

Japanese financial institution SBI Holdings has confirmed the launch of its own cryptocurrency exchange called “VCTRADE”.

In a statement issued on Monday, the Japanese financial giant announced that the exchange will initially focus on trade XRP, and eventually add Bitcoin, and BCash. However, when exactly this happens is still unknown.

SBI Holdings has partnered with Ripple and is part owner of SBI Ripple Asia, a company that is actively exploring the use of blockchain Ripple for money transfers between banks.

According to the ad, if you trade XRP/JPY will not be transaction fees, but for the withdrawal of the Japanese yen will be charged.

At the moment the exchange is available, about 20,000 registered users who have been pre-registered in October 2017. Public access is expected to be granted in July 2018.

In October 2016, SBI Holdings has established its first subsidiary SBI Virtual Currencies. This event was the first step towards launching its own cryptocurrency exchanges in Japan, supported by large financial holding company.

“In recent years, virtual currencies such as Bitcoin, has aroused great interest and has been featured in major mass media”,— said the representative of the NGO in its quest to become the country’s first banking cryptocurrency exchanger. “Virtual currencies, moreover, actively traded”.

To finish business registration by the exchange of cryptocurrencies in the financial services Agency of Japan, SBI had further strengthened its guarantees cyber security to release in the beginning of this year.

Previously invested in bitFlyer, the holding SBI also announced a 40% equity interest in the Taiwan project to develop a hardware wallet CoolBitX. The data do not have evidence, but presumably, it is this cold wallet will be used for the storage of cryptocurrency clients ‘ assets BOO.

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