Business 7 February 2019

Dennis Wafula

SBI Holdings to launch trading platform next month

SBI Holdings’ new cryptocurrency exchange, VC Trade, will soon be used for crypto trading. In an announcement, the company stated that customers would be able to trade cryptocurrencies on VC Trade in March 2019. 

When the new trading exchanges open, users will be able to trade many cryptocurrencies available on their platform since December. In a recent tweet, SBI’s CEO Yoshitaka Kitao stated:

“SBI Virtual currency Exchange VC Trade, Exchange-style cryptocurrency trading available from March-now you can buy and sell XRP, BTC, ETH, BCH in the Sales office format from the virtual currency.”

Since launching the exchange in July 2018, SBI Holdings has been preparing for trading by ensuring it complies with laws set by Japan’s Financial Service Agency (FSA).

Before the announcement, withdrawals were restricted on VC Trade. Customers only had the option to use “designed wallets” on the platform. These wallets were mostly used to comply with the Anti-Money Laundering regulations aimed at preventing money laundering and terrorism financing.

The company further highlighted in the announcement that it expects to cash out from its 23 million users who are likely to become new clients for the VC Trade platform. Reportedly, by September 30, the platform had collected 176 million Yen in revenue (about $1.58 million).

Last year in October, SBI Holdings partnered up with Sepior, a blockchain security startup, to create secure online wallets for the VC Trade platform.

SBI Holdings wants to build a crypto ecosystem that will facilitate the growth of blockchain and other technologies. So far, actions by the company have shown their willingness in achieving this dream. SBI Holdings has provided funding to many startups in the blockchain space.

The most recent startup was Tangen, who received an undisclosed amount of funding to help their operations on a hard wallet that works like a banknote for digital assets.

Further, the company has formed partnerships with companies like Ripple, R3 and other stakeholders in the cryptocurrency industry.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

COMMENT

latest news

The Bitcoin Vision: Episode 14

Business 22 May 2019

The Bitcoin Vision: Episode 14

Founding President of the Bitcoin Association Jimmy Nguyen is back this week for another update on technical developments in the Bitcoin SV ecosystem.

Read More
Dutch authorities arrest man over alleged $2.2M crypto mining fraud

Business 22 May 2019

Dutch authorities arrest man over alleged $2.2M crypto mining fraud

Dutch authorities arrested a 33-year-old businessman over allegations of defrauding investors through a crypto mining fraud.

Read More
Laos central bank warns against crypto use

Business 22 May 2019

Laos central bank warns against crypto use

Laos wants to remind its citizens that it really doesn’t like cryptocurrencies, and they’re illegal too.

Read More
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]