The launch of VCTRADE crypto exchange by Japanese financial giant SBI Holdings took place last month. However, the service was opened only for the selected group of users who were pre-registered in October last year.
But now, representatives of SBI Holdings have reported that trading on VCTRADE is available to all users from Japan between the ages of 20 to 70 years. Registration remains closed only for corporate clients. Initially, VCTRADE supported trading in the pair XRP/JPY, but later the pairs for Japanese yen with BCH and BTC were added.
WHY IS IT IMPORTANT?
1. The launch of trading on the platform was repeatedly postponed due to the need to strengthen internal security systems. Such measures were taken because of a hacker attack of another Japanese cryptocurrency exchange Coincheck in January this year.
2. Financial Services Agency (FSA) began to consider tightening the regulation on the cryptocurrency trade. Some crypto exchanges like are leaving the Japanese market because of the laws that are in force now. Huobi Pro crypto exchange, currently the 5th largest platform by 24 hours volume suspended its service for traders and investors from Japan. A major trading platform was not licensed by the Japanese regulator.
SBI Holdings reported about its plans to launch its own crypto exchange almost 2 years ago, in October 2016. At the end of last year, the company received a license from the Financial Services Agency of Japan (FSA).