Bitcoin Added To SBI Holdings’ Crypto Exchangebr>
Cryptocurrency exchange VCTRADE has added support for bitcoin (BTC) trading on its platform.
VCTRADE was launched earlier this month by SBI Holdings, one of Japan’s largest financial services groups. It is one of the 16 government-approved crypto exchanges in Japan. Last week, VCTRADE officially listed Bitcoin Cash (BCH), the second cryptocurrency after Ripple (XRP). With Monday’s announcement, the exchange now offers three trading pairs: BCH/JPY, BTC/JPY, and XRP/JPY.
For all three cryptocurrencies, customers can trade between 500 yen ($5.5 USD) and 5 million yen ($45,261 USD). Customers can also choose to place their orders in cryptocurrencies between 0.0001 and 40 BCH, 0.0001 and 5 BTC or 10 and 70,000 XRP.
The company said it plans to add more cryptocurrencies in the future, including ether (ETH). But it also indicated that it would not support smaller cryptocurrencies. To gain market share in the crypto space, SBI plans to convert users from its existing securities business, which currently has approximately 4.17 million accounts.
VCTRADE was launched in beta on January 30, but the firm announced in February of this year that the public launch would be delayed, citing the need for further security enhancements. The delay also followed the efforts by Japan’s Financial Services Agency (FSA) to increase oversight of domestic crypto exchanges following the hack of over $400 million-worth of the XEM cryptocurrency from crypto exchange Coincheck in January.