Japan’s giant, SBI Holding has recently announced that their cryptocurrency exchange, VC Trade, will be open for trading virtual currencies in March 2019.
SBI’s CEO, Mr. Yoshitaka Kitao announced this news at the third quarter results briefing for the fiscal year ending March 31, 2019. The exchange, which was launched in July 2018 had previously restricted the withdrawals of cryptocurrencies and had limited the users to use hardware wallet that the company refers to as “designated wallet”.
This method was to ensure compliance of AML laws and to prevent money laundering or Terrorist financing, which is particularly tough when it comes to cryptocurrencies.
Furthermore, the exchange VC Trade will allow trading of XRP, Bitcoin [BTC], Ethereum [ETH], and after a careful examination offered the users to even trade Bitcoin Cash [BCH].
According to its website, SBI Holdings had previously announced that it had paid-in capital of 92 billion yen [$828 million] and over six thousand consolidated employees. According to an interim results announcement, the six months ended Sep. 30 of this year the company registered over 176 million yen in revenue [$1.584 million].
With its recent partnerships with R3, Ripple and other prominent companies in the cryptocurrency ecosystem SBI Holdings Co. Ltd. is on a race to become a global leader in the payments and cryptocurrency space.
Moreover, Mr. Kitao is very concerned and striving to achieve his dream before the Osaka Expo 2025, which would allow investors to gain a huge exposure to how cryptocurrency and blockchain could change the face of payments/remittance industry altogether.
SBI Holdings had previously announced that it had made a secondary investment in the cryptocurrency exchange LastRoots.
@levinh05, a Redditor commented:
“Yes of course, Japanese loves Xrp and the regulation is almost completed. I hope march and may are the key months of the year.”
Another Redditor, @Hodlandwait commented:
“I love it. I’m easily happy to wait 5 years for a $10 price point. When I got in to this game years ago with such little, I was hoping for $50 or $100 thinking this was going to be the biggest explosion. The bear and boom and then the bear of last year has allowed so many people to accumulate that $10 takes many of this community into the fucktonnes of money camp.
I really hope Kitao helps get this thing into the next level this year.”