SBI’s VCTRADE Crypto Exchange Adds Bitcoin, Ripple’s XRP And Ethereum- It Plans To Expose Over 23 Million People To Crypto
VCTRADE is a brand new crypto exchange run by the Japanese banking giant SBI Holdings, and from now on, they will start accepting deposits in BTC, XRP, and ETH.
It was not revealed when exactly the trading would also begin on the platform.
SBI expects to welcome more than 23 million people on the platform
More than that, SBI said that it expects to welcome customers from its massive user base of more than 23 million people.
“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.,” they announced.
SBI also said that via mutual collaborations between business ecosystems, they’ll be developing a seamless environment between existing financial ecosystem companies.
The exchange has begun to allow users to sign up ahead of its official launch back in July and they reported that a considerable flow of users came and created accounts.
“When we do it, it will be number one in the blink of an eye so quickly. So even if a tremendous number of customers come, we can build a system that can bear. We have to pursue safety thoroughly,” SBI Holdings CEO Yoshitaka Kitao said. It seems that he has really high hopes for the rollout of the new exchange.
SBI Holdings teamed up with Ripple in the way that they invested in the company back in 2016.
They are currently offering a long list of services to customers including peer-to-peer lending, insurance, brokerage, investment banking, and foreign exchange services.
Ripple addresses the importance of 2018 for the crypto space
Regarding Ripple, the company has recently addressed the main reasons for which 2018 has been the year of breakthroughs for crypto. They also believe that 2019 will be the year of mainstream adoption.
In a recent blog post, Ripple said that the developments made this year are great despite the fall of the crypto market.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.