Japanese bank SBI Holdings opens its cryptocurrency exchange house to the public.

After making the announcement of its launch in June and after avoiding the months of delays, the financial services corporation of the SBI Holdings company finally opened its cryptocurrency exchange house. With the start-up of the project, the financial institution becomes the first bank to offer this type of service.

Called VCTRADE, the platform began operating on Tuesday, July 17, an agreement issued by the company through its website, which informs that the institution initiated the process for receiving applications and opening new accounts.

Starting to accept applications to open new accounts of our virtual currency exchange service (VCTRADE) starting today. The opening of accounts is available for people from 20 to 70 years residing in Japan. Applications for corporate client accounts are not currently accepted.
SBI Holdings

SBI Holdings put its system into operation last June, however, the operations were only available to users who signed up in October, when the call was made.

In total there were more than 20 million customers who answered the call and began to carry out operations with XRP (Token of Ripple) a change of year, the official monetary unit of the Asian country. Although in principle the company only underwent transactions with XRP, then support was added for bitcoin (BTC) and bitcoin cash (BCH).
Two years of planning

As you will remember, the company issued a press release in June of this year in which it reported that it had completed the demands and payments required by Japanese law to start operations. In 2016, SBI Holdings traced a work route for the creation of its exchange house. Almost 2 years ago he created SBI Virtual Currencies as a first step for the launch of this Tuesday.

Other projects such as SBI Crypto, SBI Wirex Asia, SBI Capital Base, BCause and Digital Asset Exchange were also announced by the bank last year. Each of these initiatives seeks to cover the entire spectrum of cryptoactives.

The movements of SBI Holdings in the world of cryptocurrencies have also included the purchase, in March, of 40% of CoolBitX, a Taiwanese company dedicated to cold portfolios. Another of the announcements of the corporation includes the one made in April of this year when it was learned that SBI's Russian subsidiary, SBI Bank LLC, established a working alliance with the R3CEV consortium with the intention of using the Corda block chain to its operations.

At that time the bank issued a statement highlighting the following: "Apples are the core of the FinTech innovation and are working on various measures in Japan and elsewhere." Through this effort, we believe we can contribute to the progress of the blockchain domain ".