Bitcoin, Crypto currency, Blockchain

Japan: SBI opens up a crypto exchange in the summer of Ripple To the Moon?

b013a8e9c31d27089c553da99497e268 - Japan: SBI opens up a crypto exchange in the summer of Ripple To the Moon?

SBI Holdings, an Investment company specialized part of the Japanese financial giant SBI Group, has presented new plans for the opening of a crypto-currency exchange. The Launch of the exchange is to take place, therefore, already in this summer of 2018 and to become the largest crypto-currency exchange in Japan grow. Ripple could benefit greatly.

At a press conference in the last week, the Japanese financial institution SBI has unveiled the new plans. Originally, the Start of the stock exchange, in cooperation with the Huobi Group (from the Exchange) was already planned for the autumn of 2017 or beginning of 2018. However, it came to the dissolution of the business partnership with the Chinese Huobi Group. In the result, the SBI declared group of companies, to realize a crypto-Exchange under the name “SBI Virtual Currencies” with their own resources.

The SBI since September of last year to the 16 fully licensed stock exchanges, which have been obtained from the Japanese financial services authority (FSA) permission to operate a crypto-currency exchange.

The President and CEO of SBI Holdings Yoshitaka Kitao, most recently, also Director of the new self-regulatory organization, the “Japan Virtual Currency Exchange Association”, which was founded by the 16 licensed stock exchanges, in order to create voluntary guidelines beyond the state regulation in Japan.

Kitao said this week at a press conference that the company plans to launch the specially developed stock market in the summer, officially. At Launch, the four largest crypto-to be offered currencies: Bitcoin, Ethereum, Ripple and Bitcoin Cash.

In addition, Kitao said that the company intended to be within the shortest period of time, the number one in the Japanese market. The stock market is according to his statements is very scalable and can handle a large rush of investors.

Why the establishment of the stock exchange Ripple could significantly benefit

As we already reports between Ripple and the SBI Group has a close cooperation. SBI and Ripple have already been founded in the November of 2016, the Joint Venture SBI Ripple Asia.

The consortium was founded by 42 banks, in order to develop a common Blockchain solutions for payments in Japan and is now grown from the 61 banks that took more than 80 percent of the total banking assets in Japan club.

At the beginning of March SBI Ripple Asia had announced that the consortium of 61 Japanese banks will release a Smartphone App with the name “MoneyTap”, which is based on the Blockchain technology of Ripple.

Accordingly, it is no secret that the SBI Group is a big proponent of Ripple. On the basis of which is now speculated that the exchange could have a direct XRP / FIAT pairing with the main currencies in Asia. This means that countries such as South Korea and Japan, which have a strong impact on the entire crypto-currency market, one could trade XRP against the WON and the YEN.

Should this happen, it is assumed that, in our opinion, the XRP price has a sharp increase. Since there are only rumors, you should deal with the Information cautiously.

Currently a XRP for 0.70 Euro is traded. The course is for the past 24 hours, with about 2 percent in the Minus.

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