One of the largest Japanese Bank, a service provider, the SBI Group, recently launched a crypto currency exchange which is fully covered by the Bank’s capital. The first and so far the only tradable digital currency Ripple. Yesterday, the SBI Group has announced that the Bitcoin Cash will follow.
As we previously reported, launched the SBI Holdings, after a long delay, the Portal VCTrade. On this platform, previously only in the native Token of Ripple, XRP, as the only tradable crypto currency listed. Bitcoin, Bitcoin, Cash, and Ethereum should follow, however, there has been no precise start date.
The SBI Virtual Currencies, announced on its website that Bitcoin Cash will be from the 11.06.2018 on the platform of negotiable (freely translated):
SBI Virtual Currency will start from Monday, 11. June, to trade with Bitcoin Cash (BCH). In addition, there is a new currency pair for trading: BCH / JPYAs to trade with Bitcoin (BTC), please wait for a while until the official launch.
So far only selected people can trade on the stock exchange, since there was a previous registration process for members or customers of the SBI Group, which were able to register for the stock market. From the 18.07.2018 the stock exchange opens its doors for all investors, so that then everyone can register.
The project marks the entry of one of the largest financial institutions in Japan in the crypto currency market. A subsidiary of the SBI Group carries out more than 4 billion in brokerage accounts, so that new capital could flow into the crypto-currency market. The infrastructure of the platform is, according to President and CEO, Yoshitaka Kita, for the mass adaption (freely translated):
If we do it, it will be within the shortest period of time, the number one, and even if an enormous number of customers, we can build a System that can withstand the work load.
The development of the entry of institutional investors could continue them this year, as more and more companies to make the necessary arrangements to facilitate the market entry.
Significant developments in this area, we have discussed ausfürhlich in this article. If, and when, in fact, the impact of the VCTrade platform be noticeable, but it remains to be seen.
The Flash Crash of last night, more than 15 billion US-dollars flowed within a few hours of the market, have also affected the rates of Ripple and Bitcoin and Cash. Ripple recorded at the editorial time within the last 24 hours with a price decline of – 8,46% and Bitcoin, Cash by – 9.53 percent. Possible reasons for such a sudden development we have discussed here.
It remains to be seen whether and when the market can recover from this sudden setback.
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