SBI Holdings to Launch Bank-Backed Crypto Exchange

Finally, Japanese major financial institution launched the cryptocurrency trading platform
04 June 2018   874

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.

Coinbase to Expand Services for Asia

Among the services available now there are Coinbase Prime, Pro and Custody
22 January 2019   120

Coinbase, the leading US cryptocurrency company reported that from now on its professional trading and custodial platforms are available to institutional clients and investors with large volumes from the Asian region.

In particular, according to the Coinbase blog, users of Asia will have access to the option of depositing accounts and withdrawing funds using SWIFT transfers through non-US bank accounts.

In the past 12 months, hundreds of crypto-first hedge funds have launched around the world, and many hundreds more traditional institutions such as proprietary trading firms, family offices and endowments have begun actively trading digital assets. Coinbase’s suite of professional products — Coinbase Prime and Pro, Coinbase Custody — serves these customers, along with other participants in the market, like asset issuers, crypto exchanges, and miners.
 

Elliott Suthers

Coinbase

Among the services available there are Coinbase Prime, Coinbase Pro and Coinbase Custody, which also supports the steamer USDC.

In December 2018, Coinbase began to provide services to residents of the islands of Guernsey and Maine, as well as Lithuania, Iceland, Andorra and Gibraltar.