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SBI Holdings’ VCTRADE Enables BTC, ETH and XRP Deposits


cryptovest.com 24 December 2018 07:45, UTC
Reading time: ~2 m

Cryptocurrency exchange VCTRADE, run by Japanese banking giant SBI Holdings, has begun accepting Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) deposits from other virtual currency exchange wallets. The new feature is available as of December 21, with an issuing service slated for release shortly.

The company announced the development in a statement on Friday. It added that the exchange is also considering launching support for Bitcoin Cash (BCH) deposits after further evaluation of the cryptocurrency.

“As for Bitcoin Cash (BCH) among the virtual currencies handled by the Company, it is confirmed that normal operation of the blockchain network can be confirmed with the hard fork, and if there is no obstacle to the maintenance of customer assets and transaction with customers, we plan to start offering from the time we decide,” SBI elaborated.

The company further explained that withdrawals will not be available on VCTRADE until late January 2019, and will be limited to a hardware wallet referred to as “designated wallet.”

SBI expects to onboard customers from its massive user base of more than 23 million people. The Japanese conglomerate also said that via mutual collaborations between business ecosystems, it would develop a seamless environment between existing financial ecosystem companies.

SBI launched VCTRADE in June 2018. Initially, the platform was only available to pre-registered users but the company started receiving registrations a month later. During its launch, SBI said VCTRADE would start off supporting trading of Japanese yen against XRP, in a move that is consistent with the banking giant’s support for XRP in cross-border blockchain payments.

More recently, SBI teamed up with Danish cryptographic company Sepior to create a virtual asset proprietary wallet to be integrated into VCTRADE.

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