SBI Holdings to Launch Bank-Backed Crypto Exchange

Finally, Japanese major financial institution launched the cryptocurrency trading platform
04 June 2018   1288

After a long delay associated with security risks, the Japanese financial company SBI Holdings announced the launch of its own exchange, CoinDesk reports.

Service VCTRADE is currently only available to those users who have been pre-registered in October 2017. It is expected that the site will be open for general public in July this year.

In a statement issued on Monday, SBI explained that for the first stage VCTRADE will provide services for XRP trading. Later, the exchange is planning to list Bitcoin and Bitcoin Cash, however, it does not specify a time frame.

The decision to launch XRP trading can be explained by the close ties of SBI Holdings and Ripple: companies are engaged in joint development of solutions for cross-border payments based on the blockchain.

SBI Holdings has opened a division focused on the market of digital assets in October 2016. It was going to launch the country's first crypto exchange fully backed by a major financial institution.

The platform was registered with the Financial Services Agency of Japan in September 2017, but in February of this year it reported that it has postponed its launch because of fears that arose after the hacking of the Coincheck exchange.

Binance to Add WeChat and Alipay Support

According to the anonymous sources of The Block, the feature is in the testing stage for Android users
10 October 2019   114

Binance Exchange will add support for the largest Chinese payment systems WeChat and Alipay.

Referring to informed sources, The Block reported that this option is currently being tested for Android users, and will soon become available for iOS and the desktop version of the trading platform.

Note that in China, the activities of cryptocurrency exchanges were officially banned at the end of 2017. However, residents of the country are actively using P2P and OTC platforms to buy bitcoin.