Ripple’s Partner SBI Boosts Crytpo Adoption: Brings BTC, XRP, ETH And BTC To 23 Million Clients


The Japanese financial giant SBI who is also Ripple’s partner supports adoption massively with their latest move.

They say that the new crypto exchange VCTRADE will be officially launching in March, but deposits and withdrawals for Bitcoin, XRP, and Ethereum are already up and running.

The platform is currently preparing to enable trading.

SBI CEO Yoshitaka Kitao made the announcement via Twitter, and he made sure to confirm that the exchange will also support Bitcoin Cash at launch.

A user base of more than 23 million people

SBI revealed that it expects to welcome on board customers from their massive user base of 23 million people and this would mean a lot for the overall mass adoption movement that more and more important names in the industry are trying to support these days.

“At the launch of full-scale services, expecting customer inflow from the SBI Group’s customer base of 23.47 million, specifically, SBI SECURITIES with approx. 4.26 million accounts, SBI Sumishin Net Bank with approx. 3.21 million accounts, and SBI Liquidity Market, including SBI FXTRADE, with approx. 1.05 million accounts, etc.,” SBI notes.

VCTRADE was set to enable crypto trading back in July, but SBI delayed the launch of the exchange after they experienced a crush of the demand for the pre-registrations.

It’s also important to mention that SBI Holdings invested in Ripple back in 2016 and the company provides customers with various services such as brokerage and investment banking to foreign exchange services.

Ripple is expanding its team

Ripple has been working on expansion for quite a while, and it even considers the retiring CEO of SWIFT for the team.

SWIFT’s CEO Gottfried Leibbrandt will be stepping down in June from the position that he’s occupying in the traditional payments system.

During a Paris FinTech Forum 2019 that was held a few days ago, Ripple’s CEO Brad Garlinghouse had a job offer for the SWIFT’s CEO.

People Mentioned

Brad Garlinghouse

Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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