Ripple partner and Japanese financial giant SBI says its new crypto exchange VCTRADE will officially launch in March.
Deposits and withdrawals for Bitcoin, XRP and Ethereum are already up and running as the platform prepares to enable trading.
SBI CEO Yoshitaka Kitao made the announcement via Twitter, confirming the exchange will also support Bitcoin Cash at launch.
SBIの仮想通貨交換所VCTRADE、取引所形式の仮想通貨取引が3月から可能に ～現在はXRP・BTC・ETH・BCHの売買が販売所形式で行える – 仮想通貨 Watch https://t.co/HaKGXC0yZf @ccbc_watchさんから
— 北尾吉孝 (@yoshitaka_kitao) February 5, 2019
SBI says it expects to onboard 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.
Through mutual collaborations between business ecosystems, endeavor to realize a seamless trading environment between existing financial ecosystem companies.”
VCTRADE was initially set to enable crypto trading back in July. SBI delayed the launch after reporting a crush of demand for pre-registrations.
SBI Holdings invested in Ripple in January of 2016. The company offers a long list of services to its customers, from brokerage and investment banking to foreign exchange services.
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