Tag: SBI Holdings

Categories
Crypto Markets News

SBI Holdings Acquired 12% Of Clear Markets In A Move To Develop A Cryptocurrencies Derivatives Platform

The Japanese financial institution SBI Holdings will extend its crypto portfolio with cryptocurrencies derivatives after purchasing a 12% stake in Clear Markets, said SBI’s financial report released on July 31st. SBI intends to acquire up to 20 percent more in the near future.

Clear Markets is a US-based provider and developer of electronic trading platforms offering trading services for OTC derivatives in the US, UK, and Japan.

SBI’s new investment in Clear Markets is one part of its commitment to establish a trading platform for cryptocurrency derivatives addressed to institutional investors. The platform is intended to allow financial institutions to trade cryptos more efficiently.

Clear Markets will facilitate hedging for cryptocurrency swaps that are “necessary for dealing with cryptocurrencies and financial instruments that use cryptocurrencies.” In the review, the SBI group stated that the intensified use of cryptocurrencies and their derivatives would boost liquidity.

Nikkei Asian predicts that the investment will cost SBI Holdings approximately $9 million.

SBI Holding to develop a cryptocurrencies derivatives platform with Clear Markets

Clear Markets intends to implement a cryptocurrency trading service as it already has a US Commodity Futures Trading Commission (CFTC) and SEF (Swap Execution Facility) license and is involved in derivatives brokerage market across the UK and other 32 European countries. The corporation is an affiliate of QUICK Corp. a member of the Japanese Nikkei Inc.

In 2017, SBI Holdings spent money on over 20 crypto-related projects and, on July 17th, it formally released the official version of the VCTRADE cryptocurrency exchange. Now, SBI Holdings plans on releasing a cryptocurrencies derivatives platform with Clear Markets.

Japan is among the world’ s top countries in the introduction of cryptocurrencies and crypto investments. “Up to 50 percent of the cash trade in cryptocurrency” has so far occurred in Japan, said Mark Brickell, CEO of Clear Markets.

During the past week, the Japan Virtual Currency Exchange Association (JVCEA) declared that it would demand that its cryptocurrency exchange affiliates restrict the trading operations of some customers in order to avoid high capital losses for those investors with relatively small financial holdings.

Categories
Crypto Markets News

SBI Holdings Officially Opened Its VCTRADE Crypto Exchange To The Public

After announcing its launch in June and after months of delays, Japanese financial services corporation SBI Holdings finally opened its crypto exchange platform to the public. With the implementation of the project, the financial institution becomes the first bank to offer this type of service.

Named VCTRADE, the crypto exchange platform began operating on Tuesday, July 17th, according to a statement issued by the company through its website, which reports that the institution launched the process for receiving applications and opening new accounts.

Starting accepting applications to open new accounts with our virtual currency exchange service (VCTRADE) today. Account opening is available for people aged 20 to 70 living in Japan. Applications to establish corporate client accounts are not currently accepted.

SBI Holdings

SBI Holdings put its system into operation last June. However, the procedures were only available to those users who signed up in October, when the call was made.

SBI Holdings VCTRADE cryptocurrency exchange allows XRP (XRP), Bitcoin (BTC), and Bitcoin Cash (BCH) trades against the Yen

In total, more than 20,000 customers answered the call and began trading with XRP (XRP), formerly known as Ripple (XRP), in exchange for Yen, the official currency unit of Japan. Although the company initially offered only transactions with XRP, it later added support for Bitcoin (BTC) and Bitcoin Cash (BCH).

As you may recall, the company issued a press release in June of this year informing that it had completed the requirements and paid all the fees required by Japanese law to start operations. In 2016, SBI Holdings laid out a practical route for the creation of its crypto exchange platform. Almost two years ago, they created SBI Virtual Currencies as a first step to launching the new platform on Tuesday.

Other projects such as SBI Crypto, SBI Wirex Asia, SBI Capital Base, BCause, and Digital Asset Exchange were also announced by the bank last year. Each of these initiatives seeks to cover the entire spectrum of cryptocurrency.

SBI Holdings movements in the world of cryptocurrency have also included the purchase, in March, of 40% of CoolBitX, a Taiwanese company dedicated to cold wallets. Another of the corporation’s announcements consists of the one made in April of this year when it was announced that SBI’s Russian subsidiary, known as SBI Bank LLC, established a working alliance with the R3CEV consortium with the intention of using blockchain Corda for its operations.

Categories
Crypto Markets

SBI Holdings Launched VCTRADE, Its Own Cryptocurrency Exchange Platform, With Ripple (XRP) As The Main Asset

SBI Holdings has officially announced the launch of its own cryptocurrency exchange platform called VCTRADE, which is, in fact, the first cryptocurrency exchange platform provided by a bank. The platform will start trading with the 20,000 customers who registered in October last year, who will be able to trade with Ripple (XRP) in exchange for JPY in VCTRADE.

The company plans to extend its services to more customers from July and include other cryptocurrencies such as Bitcoin (BTC) or Bitcoin Cash (BCH).

According to the statement, the company completed the registration and fees required to operate this type of business on Japanese territory since September 2017 and has since worked to prepare for the launch of VCTRADE.

In October 2017, SBI Holdings allowed customers interested in crypto trading to register and, not surprisingly, more than 20,000 applications have been submitted.

SBI Holdings launched VCTRADE, its own cryptocurrency exchange platform, with 0 fees for XRP/JYP trading

For the XRP/JPY exchange, there will be no commissions as the SBI Holdings’ statement said. Also, fees for withdrawals will be charged at the time of making these types of transactions.

In terms of security and safety, the company will be backed by the Japanese Secom Trust Systems and both companies will collaborate for the management of the wallets for the VCTRADE exchange platform.

SBI Holdings had connections with the cryptocurrencies market before

In early March, the company sealed the purchase of 40% of CoolBitX, a Taiwanese company that owns the CoolWallet Bitcoin (BTC) wallet.

In addition, also in early March, the bank has canceled its collaboration with the Chinese startup Huobi, which, at first, announced they’d support SBI in launching its SBI Virtual Currencies.

On the other hand, SBI has been working with Ripple (XRP) since January 2016 to meet the growing demand for cryptocurrencies market services in Asia and put the basis a new company called SBI Ripple Asia which operates in Japan, China, Taiwan, Korea and the countries of the Association of Southeast Asian Nations (ASEAN).

Now, with the launch of its own cryptocurrency exchange platform, VCTRADE, SBI Holdings secures its position as a leader in the Asian cryptocurrencies market

Categories
Crypto Markets News

SBI Virtual Currency Platform, In Partnership With Ripple (XRP), Will Launch This Summer

Ripple (XRP) is doing pretty good in cryptocurrencies markets as it gained 8% today. However, it rebounded to $0.90 but is still recording a 2.26% gain in the last 24 hours. However, SBI Virtual Currency platform has just been announced to be launched during summer. The company thinks XRP is the most innovative cryptocurrency at least in terms of the improvements it can bring to the banking and remittance institution cross-border transactions.

SBI Holdings former CEO Yoshitaka Kitao, now the President of Premium Financial Services Co., is convinced that with the institution’s commercial initiative, once the company’s cryptocurrency exchange platform is rolled out during the summer, Ripple (XRP) would rank first in terms of trading.

When we do, it will be number one in the blink of an eye so quickly, so even if a large number of customers come, we can build a system that can handle it. We have to look for security thoroughly.

Yoshitaka Kitao, ex-CEO of SBI Holdings, actually President of Premium Financial Services Co.

 

SBI Virtual Currency platform, in partnership with Ripple (XRP), will be launched this summer

Both Yoshitaka’s actual company and the SBI Holdings are acutely conscious that the overall volume of cryptocurrency transactions has been cut in half from December 2017. They are very hopeful in that they will dominate the Japanese cryptocurrencies markets in a way that is secure for crypto holders.

This would follow the outrageous hacking of Coincheck after which more than $500 million in NEM (XEM) has been stolen, in Nem (XEM), by hackers and which had the Japanese cryptocurrencies regulators seek solutions from the Japanese cryptocurrency exchanges. Thus, the challenge both Premium Financial Services Co. and SBI Holdings are embarking to is huge.

Also noteworthy is that Yoshitaka Kitao was very bullish regarding Ripple (XRP) as SBI Holdings entered into a collaboration with the Ripple group in January 2016. SBI Holdings has been in business since 1999 and has spearheaded Internet-based payments and financial solutions. Not surprisingly, the company has been the first ever to associate with the Ripple company.

SBI is committed to delivering financial services in the equity, banking, securities, insurances and now cryptocurrency exchange services, as the long-awaited SBI Virtual Currency platform has just been released in partnership with Ripple (XRP).

Exit mobile version