First bank-backed crypto exchange opens doors in Japan

M

mlawson71

Japanese financial conglomerate SBI Holdings has officially launched a crypto currency exchange under the trade name ‘VCTRADE’, becoming the first banking institution in the world to enter the crypto market.
SBI first announced its intention to enter the crypto market in October 2016. In September 2017 the bank received a license form the Financial Services Agency (FSA), Japan’s financial regulator, but decided to postpone the official launch of the exchange because of security considerations in the aftermath of the theft of some 530 million USD from the Tokyo-based exchange Coincheck in January.
 
Last edited:
Hopefully, more will follow so traders have a better mix of brokers to use where the trades are cleared by a known banking entity. I use Coinexx right now since my automated systems work great on the MT5 platform - I am just not comfortable yet trading a large account until I know a bank is clearing the trades.
 
You must log in or register to reply here.
Back
Top