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The Japanese company SBI Holdings announced Tuesday that its new cryptocurrency exchange system, VCTRADE is now available to the public, being the first financial entity to offer this service in the world, says the Israeli portal Finance Magnates (FM).
SBI Virtual Currencies was registered as a trademark in October 2016 by SBI Holdings, which is in turn a division of the Tokyo-based financial corporation, SBI Group . Subsequently, in September 2017, SBI Virtual Currencies was registered with Financial Services Agency of Japan .
CEO Yoshitaka Kitao commented that the intention of the company was to create a "platform that dominates the exchange of cryptocurrencies". The exchange was finally launched in beta mode on January 30, 2018, FM reports and adds that initially it would only offer cryptocurrencies XRP by yen, but in May it was announced its intention to include Bitcoin Bitcoin Cash and Ethereum .
Bitcoin Cash transactions were added on June 8 and Bitcoin a week later. The currency exchange was finally launched in June under the name of VCTRADE after months of delay, caused by the theft of hundreds of millions of cryptocurrency dollars from the Japanese Coincheck exchange service.
Initially only pre-registered people in October 2017 could enter, but as of today the exchange is open to Japanese residents between the ages of 20 and 70 explains the website of SBI Holdings. Business customers are still not accepted.
According to the latest financial report of SBI Holdings, the company plans to establish a "new cryptocurrency-based financial ecosystem", to which VCTRADE belongs. The company said it wants to start a cryptocurrency mining operation because the market is monopolized by Chinese companies, but has not consolidated a plan.
In fact, this month Kitao commented in a conference that Bitcoin Clash is more viable than Bitcoin, which is very expensive, and the company started extracting Bitcoin Cash last February through a subsidiary called Crypto SBI.
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