Following the launch of their crypto exchange, VCTRADE nearing, the Japanese financial giant SBI, has already enabled and permitted the withdrawals and deposits of Bitcoin or BTC, Ethereum or ETC, and Ripple or XRP. Additionally, according to Yoshitaka Kitao, the CEO of SBI Holdings, they are going to support Bitcoin Cash or BCH when the platform launches.
SBI prepared to roll out crypto services with firms
Just like it was written in one statement from recently, which was posted on the website of SBI Holdings, the financial giant said that they are prepared to roll out crypto services with the firms expecting the introduction of crypto to be widely accepted by their base of clients.
The statement says that at the launch of the full-scale services, expecting customer inflow from the customer base of 23.47 million of SBI Group, specifically, SBI SECURITIES with approximately 4.26 million accounts, SBI Sumishin Net Bank with approximately 3.21 million accounts, as well as SBI Liquidity Market, which includes SBI FXTRADE, with about 1.05 million accounts and so on.
Through some mutual collaborations between businesses ecosystems, endeavor to realize a seamless trading environment between the existing financial ecosystem companies.
SBI partnered with Ripple in 2016
SBI was in a partnership with Ripple since three years ago, in 2016, hoping that the company is going to bridge the financial industries, as well as blockchain space together.
SBI Holdings is involved in numerous cross-border businesses throughout Asia, as well as the Middle East, which is going to use the infrastructure of Ripple to speed up the transactions while simultaneously lower the costs.
There is also hope among the investors that the system is actually powered in part by XRP and not only the technology standing behind Ripple.
Japan is known as one of the most crypto friendly countries in the world in cultural terms, but the government of the country, as it has been reported, is trying to help the adoption by not looking to a crackdown and permitting the crypto industry space to grow, as well as regulate itself.
Pushing back the date for launching VCTRADE
Initially, they first planned to launch VCTRADE back in July of last year, but they have been forced to push back the time for the launch because of the overwhelming amounts of users that requested pre-registration.
Having such a massive interest in the crypto from the citizens of Japan, it is not a surprise that SBI Holdings is quite confident that its users are going to adapt to all those changes which blockchain is going to bring to the financial services sector.
In terms of price, the native token of Ripple, the XRP, is no priced at $0.29 is in the red following a 2.28% decrease over the past day.