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SBI Holdings Launches Cryptocurrency Exchange “VCTRADE”

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SBI Holdings, the Japan-based financial services company, announced that its cryptocurrency exchange platform “VCTRADE” is now available for use starting from today. However, the service is only available for the 20,000 people who signed up during the pre-registration period in October 2017. VCTRADE” will start accepting public applications in July 2018.

Two years ago, Ripple announced a partnership with SBI Holdings to expand the use-cases of XRP in Asia by launching SBI Ripple Asia. Hence, the first cryptocurrency available on the platform will be XRP, followed by Bitcoin and Bitcoin Cash.

Talking about the collaboration with Ripple, Yoshitaka Kitao, SBI Holdings CEO, said, “Surveying the market, Ripple was the only company that has delivered battle-tested enterprise solutions and global bank customer traction, including commercial deals with top banks already signed in Asia Pacific. Distributed financial technology is undoubtedly transforming financial infrastructure and we’re excited to drive its adoption throughout Asia.”

In March 2018, SBI Holdings published a press release stating that the company is ending it partnership with cryptocurrency exchange Huobi. This move led to the cancellation of “SBI Virtual Currencies” and “Huobi Japan”.

About SBI Holdings

With a history that dates back to 1999, SBI Group eventually branches into three different categories: Financial Services, Asset Management, and Biotechnology Related Business. From Internet banking and insurance businesses to managing venture capital funds and pharmaceutical research, SBI Holdings has around 46 subsidiaries.

The company has invested in crypto and blockchain sectors such as cold storage wallet CoolBitX, blockchain startup Templum, cryptocurrency trading platform eToro and fintech company DAYLI Financial Group.

“As the SBI Group transitions itself from “Japan’s SBI” to the “World’s SBI,” we will continue to pursue further growth as a global company … [W]e strive to introduce more innovative services and businesses, in pursuit of the maximization of corporate value, which is the sum total of customer value, shareholder value and human capital value,” explains Kitao.

Image Credit: Depositphotos

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