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SBI Holdings’ Virtual Currency Exchange Enables Deposits for XRP, Bitcoin (BTC) and Ethereum (ETH)


blockmanity.com 21 December 2018 14:23, UTC
Reading time: ~2 m

SBI Holdings one of the biggest financial service in Japan has enabled virtual currency deposits. Users can now deposit their virtual currencies for to SBI’s VCTrade which currently supports three currencies: Bitcoin (BTC), Ethereum (ETH) and XRP.

The exchange team at SBI Holdings announced on their website that deposits will go live starting today (December 21st). VCTrade confirms to add deposits for Bitcoin Cash (BCH) over time.

SBI Virtual Currencies tweeted:

⇒ https://t.co/ayDpVPppyY
⇒ https://t.co/k1Ot6dNumX pic.twitter.com/Sphjv63DYq

— SBI Virtual Currencies (SBIバーチャル・カレンシーズ) (@sbivc_official) December 21, 2018

The announcement by SBI also mentioned that the withdrawal option for Virtual currencies would be available from late January 2019.

“We plan to start sending this virtual currency sending service as soon as preparation is completed from late January 2019. Information on designated wallet (how to obtain, notes on use etc.) will be provided from time to time on the website of our company or our affiliated company.”

SBI’s VCTrade launched back in June this year with a lot of hype around it, the exchange had enabled trading for Bitcoin (BTC), Bitcoin Cash (BCH) and XRP against Japanese Yen open only for the pre-registered users. Later the exchange also added support to Ethereum (ETH) and started accepting public registrations.

The Japanese banking giant is involved in Blockchain technology by partnering with Ripple to use the xCurrent product in its money tap mobile app.

SBI’s VCTrade is aiming to capture the Cryptocurrency market in Japan by leveraging its huge set of existing users from its securities business and its established banking infrastructure. The company however is not keen on adding smaller Crypto assets on its platform.

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