Ripple partner SBI Holdings announces VCTrade Pro services
- It will initially list XRP/JPY, BTC/JPY, and ETH/JPY with more services to come in later days.
- Earlier SBI’s sister company, Money Tap, announced an upgrade as well.
Long-time Ripple partner, the Tokyo-based SBI Holdings announced the launch of its virtual currency exchange service, “VCTRADE Pro.” It will initially list XRP/JPY, BTC/JPY, and ETH/JPY with more services to come in later days. In an official tweet, they stated:
“ [Notice of Launch of Virtual Currency Exchange Service “VCTRADE Pro”] From July 31 (Wednesday) today, virtual currency physical exchange service “VCTRADE Pro” with virtual currency exchange system was launched “
According to the company, the VCTRADE pro isn’t a private transaction system. It simply works as a virtual currency exchange business on the money settlement law. SBI Group explains VCTRADE pro as follows:
“Unlike the VCTRADE (sales point system) method, VCTRADE Pro concludes a sales contract for cash virtual currency between the company and the customer when it is promised by offering bid and sell prices for each virtual currency.”
Along with this, SBI Holdings’ sister company, Money Tap, announced an upgrade after receiving investments from five leading banks. As per SBI, Ripple has a keen interest in Money Tap’s growth:
“Money Tap will now consider accepting an investment from U.S. Ripple, in order to strengthen technical cooperation and the promotion of initiatives related to international remittances.”
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
