VCTRADE which became renowned as the world’s first cryptocurrency exchange backed by a bank has released some interesting announcements. The cryptocurrency exchange backed by SBI has opened deposits of Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH).
SBI took to Twitter-
— SBI Virtual Currencies (SBIバーチャル・カレンシーズ） (@sbivc_official) December 21, 2018
The English translation reads-
‘Notice: We have started to provide the receipt of virtual currency (GR) service from today.
XRP | BTC | Eth can now be received from other virtual currency exchange wallets, etc.
⇒ http://www.sbigroup.co.jp/news/pr/2018/1221_11384.html … ※ The delivery of the sending (issue) service is scheduled to be released sequentially. ⇒ http://www.sbicxw.com’
Thus by deposits, this means that it has enabled the deposits of these three cryptocurrencies from other exchange wallets. Bitcoin Cash (BCH) deposits are next in line while withdrawals of digital assets will begin by the end of January 2019.
VCTRADE is operated by SBI Virtual Currencies, which is a wholly owned subsidiary of SBI Holdings. It started accepting applications from Japanese users in June 2018, with pre-registration for the platform in October 2017. SBI expects to bring a flow of users to VCTRADE from its vast customer base which spans to a 23.47 million customer base.
SBI Holdings is seen to be XRP centered. It first invested in Ripple back in 2016 which brought into light Ripple’s technology. It’s Money Tap mobile application uses Ripple’s technology of xCurrency for a faster and more cheaper bank to bank transfers in Japan. Even VCTRADE is majorly devised around XRP.
The Japanese financial services company, SBI Holdings,was earlier the leader in terms of most active Blockchain investors. They’ve done more than eight investments blockchain related companies like cryptocurency exchange Kraken or cryptocurrency Ripple.
SBI taking significant steps for its cryptocurrency exchange showcases the encouragement of cryptocurrency especially XRP by Japan and the banking sector.
Image Source – Bitcoinexchangeguide
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