The Japanese financial group of companies SBI Holdings has announced the launch of its cryptocurrency exchange. The run took place a month later than planned, for security reasons.
At the moment, the service VCTRADE only available to users who pre-register on the platform at the end of last year. New user registrations will be opened from July.
SBI said that in the first phase on VCTRADE will be bidding tokens Ripple XRP. Then on the exchange will support bitcoin (BTC) and cash (BCH), but the exact timing of integration of these currencies is not yet known.
The choice token XRP as an underlying asset can be explained by the close ties of the company with the blockchain startup: SBI Holdings uses the distributed registry Ripple for cross-border remittances.
Recall that SBI Holdings has established a subsidiary company SBI Virtual Currencies that focuses on the market of digital assets in October 2016. On the basis of the new company SBI had planned to launch the first cryptocurrency exchange in Japan, fully supported by a major financial institution.
The platform was registered with the Japanese financial services Agency (FSA) only by September 2017. However, in February this year, the company announced that it was postponing the launch of the service because of fears associated with breaking another Japanese exchange Coincheck.
In addition, in March it became known that Virtual Currencies SBI refused to cooperate with the crypto currency exchange Huobi, financial and technological resources which were going to use. Instead, the SBI decided to work independently on their own project VCTRADE.