SBI Holdings Crypto Exchange: When a company launches a new initiative or product, excitement tends to follow and the news often circulates around the market, attracting the eye of different people. Even so, today’s buzz, caused by SBI Holdings- a Japanese finance behemoth, is a different story.
On Monday, news broke of SBI Holdings launching a crypto exchange. Sure, there are tons of crypto exchanges out there, but how many mainstream financial institutions have launched one? The answer is one, and that institution is none other than SBI Holdings.
Crypto News | SBI Holdings Crypto Exchange
On Monday, the SBI Holdings crypto exchange launch was confirmed. Now, this is important crypto news for two reasons, in particular. First, SBI Holdings is the first mainstream financial company to roll out a virtual currency exchange. Second, SBI Holdings revealed its intention to launch a crypto exchange back in 2016. So, needless to say, the launch of the SBI Holdings crypto exchange has been a long time coming.
Following the news, the SBI Holdings stock soared. The stock was last seen trading up nearly 5%.
Source: Google Finance
Right now, we know a few details regarding the SBI Holdings crypto exchange, but there are likely to be additions and changes made in the forthcoming weeks. Here’s what we know for sure, though:
- The exchange is called the VCTRADE exchange
- VCTRADE went live today
- If you registered for the crypto exchange in October 2017, you will be accepted today
- The SBI Holdings crypto exchange will initially focus on trading Ripple (XRP)
- At a later time, coins like Bitcoin Cash and Bitcoin will be listed
- A wider audience will be eligible to use the exchange next month.
The Crypto Community Reacts
Many were pleased with the crypto news. Which makes sense, considering we’ve already determined the importance of the SBI Holdings crypto exchange. The crypto community took to social media to express their optimism. Here are a few tweets that stuck out:
SBI Holdings, one of the largest financial companies in Japan, has launched a cryptocurrency exchange. They are also investors in many financial services companies like Paytm Mall, eToro, and Dayli Financial.
Expect to see the virus spread even faster 🚀
— Pomp 🌪 (@APompliano) June 4, 2018
@yoshitaka_kitao, CEO and president of SBI Holdings, on XRP:
— xrp_news (@xrp_news) June 2, 2018
They also invested in Ripple about ~10%
And XRP is supposed to be base pair.
This is terrific news for all of digital assets because it can be a liquidity hub using xRapid.
— Dr. T (@XRPTrump) June 4, 2018
What do you think of the news? Was it a smart move for SBI Holdings to transition into crypto? Is the virus spreading like so many are claiming? 🚀
Featured Image: Twitter