Japan Finance Giant SBI Holdings To Launch Crypto Exchange In Summer 2018
01 Mai 2018 - 12:47PM
ADVFN Crypto NewsWire
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Japan`s financial services giant SBI Holdings plans to launch its
crypto exchange this summer,
local media outlet Business Insider Japan reported April 27.
According to a recent announcement by company
president Yoshitaka Kitao, the exchange SBI Virtual Currencies will
support coins such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Bitcoin Cash (BCH).
Yoshitaka suggested that BCH would be regarded as the
settlement currency, as the scarcity of BTC makes it expensive and
“tiring as a settlement currency”. He added that XRP would be a
remittance currency.
While the launch date of the exchange remains
unannounced, the SBI president stated that the exchange “will be
number one in the blink of an eye.”
"When we do it, it will be number one in the blink of
an eye so quickly, so even if a tremendous number of customers
come, we can build a system that can bear. [sic] We have to pursue
safety thoroughly.”
SBI Group first revealed its plans for SBI
Virtual Currencies in October, 2016. In December, 2017, SBI announced it would partner
with Bitcoin trading platform Huobi, and would launch the exchange in early
2018.
In March, SBI postponed the launch of the
exchange for security improvement purposes. The delay was
ostensibly motivated by the Coincheck hack and the Financial
Services Agency’s (FSA) subsequently heightened scrutiny of
exchanges.
In March, SBI Holdings acquired 40 percent of Taiwanese cryptocurrency hardware wallet company CoolBitX. CoolBitX’s
primary offering is its CoolWallet, which can communicate with
other devices via Bluetooth.
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