Ripple’s partner SBI VCTRADE exchange to launch in March will reach 23 million customers
|- SBI has commenced deposits of BTC, XRP, and ETH ahead of VCTRADE exchange launch.
- Ripple and SBI have been working together since 2016.
The leading Financial Giant in Japan, SBI is preparing to launch its cryptocurrency exchange platform referred to as VCTRADE. In fact, the exchange has already started accepting deposits of various cryptocurrencies including Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH). The exchange will also add support for Bitcoin Cash (BCH).
In a recent statement published on the company’s website, SBI reckons that it is ready to commence crypto services. The Financial Giants expects that the new services will be greatly adopted by their massive customer base.
“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. Through mutual collaborations between business ecosystems, endeavor to realize a seamless trading environment between existing financial ecosystem companies.”
Ripple and SBI have been working together since 2016. The latter’s mission is to bridge the gap between the financial systems and the blockchain industries. Moreover, SBI is already largely involved in cross-border payments, especially Asia and Middle East regions. The firm expects to incorporate Ripple’s blockchain infrastructure to increase the speed of transactions while at the same time lowering transaction costs.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.