Worlds first bank backed cryptoexchange sees full launch

21 Jul, 2018
by Arthur Sillers
Worlds first bank backed cryptoexchange sees full launch

Following some delays over the past few months, the world's premiere bank-backed cryptoexchange is now available to the public in Japan.

The exchange, called VCTRADE is the crypto trading arm of the large financial corporation SBI Holdings. According to an announcement on their website Tuesday, SBI Holdings has made good on their two year old announcement that they were building the world's first financially backed cryptoexchange. The exchange currently supports trading between Yen and XRP, as well as BTC and BTC cash.

 VCTRADE went through a trial run starting in June which opened up the platform to a select group of customers and early adopters. VCTRADE's full launch was forestalled by security concerns, according to Coindesk, who attribute the delays to the massive hack on Japan's Coincheck this January.

This announcement opens up the platform to anyone residing in Japan aged 20-70, and likely preempts an eventual introduction of corporate customers to the exchange.

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