VCTRADE, a new cryptocurrency exchange run by Japanese banking giant SBI Holdings, says it is now accepting deposits in Bitcoin (BTC), XRP and Ethereum (ETH). It is not yet clear exactly when trading will begin on the platform.
SBI Holdings says it expects to onboard customers from its huge 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.
Through mutual collaborations between business ecosystems, endeavor to realize a seamless trading environment between existing financial ecosystem companies.”
The exchange began allowing users to sign up ahead of its official launch back in July, and said a crush of users immediately began creating accounts.
SBI Holdings CEO Yoshitaka Kitao has high hopes for the roll out of the new exchange.
“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 first invested in Ripple back in 2016. The company offers a long list of services to its customers, including insurance, peer-to-peer lending, brokerage, investment banking and foreign exchange services.