Major Finance Firm SBI Opens Its Crypto Exchange To Traders

July 17, 2018 9:50 pm Published by

VCTRADE, the public version of Japanese internet giant SBI Holdings, has been launched, an official announcement on Tuesday on the website CoinTelegraph reported.

After several months of delays as SBI conformed with regulatory demands for tightened security the public version is now in use, the report said.

“Account opening is available for individuals from 20 to 70 years old residing in Japan,” a brief notice confirmed, adding “applications for setting up accounts from corporate customers are not currently accepted,” CoinTelegraph reported.

SBI, the report said, has become an active blockchain presence over the past year, being notable for its endorsement of payment network Ripple.

VCTRADE initially serviced the network’s XRP token when the company launched a private trial of the platform in June, going on to add support for Bitcoin Cash (BCH) a week before Bitcoin itself, the report said.

Once SBI met the group’s stringent security prerequisites for the cryptocurrency exchanges serving the domestic market, SBI now has an advantage over other actors in an increasingly crowded arena, the report said.

In the next 12 months, additional platforms should debut in Japan from Yahoo! among others, while U.S. exchange Coinbase is also attempting to corner the space, CoinTelegraph reported., Jack Durschlag

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