Japan’s SBI Group launches crypto-trading platform with Ripple [XRP]

One of Japan’s premier banking services, SBI Group, has launched a virtual currency portal. This comes after its talks with Ripple to launch a platform based on XRP in January of this year.

The portal in question is located at the domain sbivc.co.jp. The launch has also been previously mentioned to offer trading for major cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], and Ripple [XRP], according to a report by Business Insider Japan. However, it is important to note that they will support XRP exclusively at launch, as evidenced by the “About” page only having data for XRP.

The name of the SBI Group behind this project marks the entry of one of Japan’s biggest institutional players moving into the crypto-space. They are the leading financial service company in Japan, with one of their subsidiaries handling over 4 million brokerage accounts. President and CEO Yoshitaka Kitao said:

“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 [the workload].”

On Ripple, Kitao stated that XRP has a very clear use-case, saying:

“XRP is faster, cheaper and more scalable than any other digital asset. I strongly believe it will become the global standard in digital currencies.”

The exchange promises to offer reliability, speed, and transparency, combining the knowledge of SBI Group and the security along with a “world-class matching engine.”

The website provides an announcement for the customers who have not applied for the advance reservation account opening. It says [trans.]:

“Regarding general account opening reception, we will announce you again on our official website once preparation is completed. We appreciate your patience as we wait for a while.


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