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Homepage / News June 4, 2018 80 views

SBI Holdings’ VCTRADE Cryptocurrency Exchange has Officially Launched

SBI Holdings’ VCTRADE Cryptocurrency Exchange has Officially Launched

SBI Holdings has created its cryptocurrency intentions clear. Their plan of action is to launch at least a single trading platform and discover other choices as properly. It now seems the business&#8217s cryptocurrency exchange has efficiently launched. What makes this venture outstanding is how this venture is totally backed by the Japanese government.

Japan remains a key player in the globe of cryptocurrency. The nation has legalized Bitcoin as a indicates of payment really some time ago. As such, it is only standard the government continues to monitor all activity in this sector. With SBI getting the backing of the government for their VCTRADE platform, an intriguing scenario is created. It is the first time the government officially backs a cryptocurrency trading platform.

VCTRADE is Open for Company

VCTRADE was initially scheduled to launch a lot sooner. Unforeseen security concerns have forced the company to delay its initial plans. Even so, the service is live these days and can only be accessed by customers who pre-registered in October of 2017. The common public will be capable to access the platform and its functions around the Summer of 2018.

There is another intriguing aspect about VCTRADE. It utilizes the XRP token as its primary currency. Even though Bitcoin and Bitcoin Money will be added as properly, this is a quite intriguing improvement regardless. Utilizing XRP as the major base currency for other trading pairs is rather unheard of in this sector. The parent business also utilizes Ripple technologies for its cross-border transactions. As such, incorporating XRP makes a lot of sense to the company.

Last but not least, VCTRADE is diverse on the technical side as nicely. The original plan entails a partnership with Huobi to use its technological resources. That deal ultimately fell via in March of 2018, for unknown causes. Even so, it appears SBI Holdings has not run into any key troubles when launching this new platform. It will be exciting to see how the basic public responds to this new platform.

Header image courtesy of Shutterstock

Tags: SBI Holdings, VCTRADE, XRP

Published at Mon, 04 Jun 2018 12:36:47 +0000