Ripple Partner, Japanese Financial Giant SBI, Launching New Crypto Exchange for Its 23 Million Customer Base

Ripple partner and Japanese financial giant SBI have announced they will officially be launching their new crypto exchange VCTRADE in March 2019. Unlike most newly launched crypto exchanges, the SBI Group already serves a customer base of 23.47 million people, all of whom will have access to VCTRADE.

SBI clients can already make deposits and withdrawals of Bitcoin (BTC), XRP, and Ethereum (ETH) as the exchange prepares for their launch in March. Also, in addition to the cryptos mentioned above, SBI CEO Yoshitaka Kitao announced the exchange will be supporting Bitcoin Cash (BCH) at launch.

SBI Expects to Onboard Users From Their 23 Million Customer Base

The SBI Group is a well-established Japanese financial giant with over 23 million customers that will soon be introduced to their crypto exchange, VCTRADE.

In a document released on SBI’s website, the company stated that they are ready to roll out crypto services and onboard users from their 23.47 million customer base.

“At the launch of full-scale services, expecting customer inflow from the SBI Group’s customer base of 23.47 million, specifically, SBI SECURITIES with approx. 4.26 million accounts, SBI Sumishin Net Bank with approx. 3.21 million accounts, and SBI Liquidity Market, including SBI FXTRADE, with approx. 1.05 million accounts, etc. Through mutual collaborations between business ecosystems, endeavor to realize a seamless trading environment between existing financial ecosystem companies.”

As seen in the statement above, SBI has a large number of potential customers ready to be onboarded to their new crypto platform. In fact, SBI initially planned to launch their VCTRADE crypto exchange back in July 2018, but had to push the launch date back due to an overwhelming amount of customers requesting pre-registration.

SBI’s Japanese customer base is very interested in cryptocurrencies, and therefore it’s no surprise that the financial giant is expecting an influx of their customers to use their crypto platform.

Will SBI’s VCTRADE crypto exchange be the catalyst that leads to the next crypto bull run? Or will the crypto market begin to surge in price for another reason? Let us know what you think in the comment section below.