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Business & Finance

Japan’s First Bank Supported Crypto Exchange Is Live Now

Banks Started Turning Into Crypto Exchanges

Strategic Business Innovator (SBI) Group is the Japanese financial services group based in Tokyo, Japan. SBI Holdings is the one of the largest financial services group in Japan and they have launched Japan’s first crypto exchange backed by the bank. According to the sources company’s officials announced the launch of crypto exchange VCTRADE on Monday, June 4, 2018. after a month-long delay due to some security concerns.

SBI virtual currency exchange VCTRADE will start trading and services will be provided to limited over 20,000 users, who applied for advanced application in October 2017, these users were pre-registered with the platform when it was announced in September 2017. The exchange is expected to be available for a wider public in July 2018. VCTRADE services are live now and trade will be offered initially only with Ripple (XPR), and later will expand its coverage to Bitcoin(BTC), or Bitcoin Cash(BCH), but there is no confirmed timeline for that.

SBI Virtual Currencies provides the world’s highest level of the low-latency trading environment by adopting NASDAQ’s transaction system (matching system). In the meantime, as for realizing a secure platform, SBI Virtual Currencies partners on wallet management with SECOM Trust Systems CO., LTD.

Muhmmad Furqan

Furqan is a financial markets expert. A regular trader of cryptocurrencies and hold some investments in Bitcoin, Stellar, IOTA and OST. Contributes with latest industry insights. Contact the editor at editor.opinions@blockpublisher.com

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