Japan: Major Finance Firm SBI Opens Its Crypto Exchange to Traders

Japan: Major Finance Firm SBI Opens Its Crypto Exchange to Traders

Japanese internet giant SBI Holdings formally launched the public version of its cryptocurrency exchange VCTRADE, according to an official announcement July 17.

The move came after several months of delays as SBI conformed with regulatory demands for tightened security.

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

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

VCTRADE initially catered to the network’s XRP token when the company launched a private trialof the platform in June, going on to add support for Bitcoin Cash (BCH) a week before Bitcoinitself.

Having appeared to meet the 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 next twelve months should see additional platform debuts in Japan from Yahoo! among others, while U.S. exchange Coinbase is also attempting to corner the space.


About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast ; motivator; author of "AN IMMIGRANT WITH A PLAN" and a John C Maxwell certified speaker . Happily married to Emely and a father to one son and two daughters. My greatest joy comes from inspiring others to maximize their potential. I feel fulfilled when I bring hope to the hopeless and encouragement to the discouraged. The truth is, we each have a past, and it's either our prison, our excuse OR our springboard to a brighter future. The choice is yours but as for me, I made up my mind a long time ago to use my dysfunctional tough childhood as a stepping stone . The late Zig Ziglar used to say "It's not what happens to you that determines how far you will go in life, it is how you handle what happens to you." This is my story and I am sticking to it!
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