Japanese financial giant SBI Holdings says that it plans to bring existing customers from its massive userbase of over 23M people to its newly launched crypto exchange platform.
SBI Holdings has recently partnered with Ripple to and launched VCTRADE last month. It initially only allowed XRP trades but has now added Bitcoin (BTC) and Bitcoin Cash (BCH). All currencies are paired with the Japanese yen and are one of the few platforms approved by the Japanese government in Japan.
The platform has only been available to a limited number of pre-registered users, but the floodgates are about to be taken down and access will be given in full force to its huge customer base. The full-scale launch is set for this month and the company expects to bring in a nice flow of users to the new platform. This means new money for BTC, BCH, and XRP.
President Yoshitaka Kitao said he expects the platform to “burst” onto the cryptocurrency scene. He said this with absolute confidence just a few months ago before the platform went live in June, and that believes that crypto and blockchain tech will fuel Japan’s economy.
“It will be number one in the blink of an eye so quickly, so even if a tremendous number of customers come, we can build a system that can bear [it].“
The company invested in Ripple back in January of 2016 and offers everything from brokerage, investment banking, foreign exchange, insurance, and P2P lending.
From a company report, it appears that they’re pretty confident in their goals:
“At the launch of full-scale services, expecting customer inflow from the SBI Group’s customer base of 23.47 million, specifically, SBI SECURITIES with approx. 4.26 million accounts, SBI Sumishin Net Bank with approx. 3.21 million accounts, and SBI Liquidity Market, including SBI FXTRADE, with approx. 1.05 million accounts, etc.
Through mutual collaborations between business ecosystems, endeavor to realize a seamless trading environment between existing financial ecosystem companies.”
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