Japan’s largest financial institution, SBI Holdings has officially announced the launch of its enhanced crypto exchange dubbed “VCTrade Pro” today.
According to a statement by SBI Holdings, the service for the exchange which is backed by the Japanese Financial Service Agency (FSA) would commence today.
It can be recalled that SBI holdings launched “VCTrade” last year. Although, it had slight limitations; SBI has assured users to expect more from VCtrade Pro.
The newly launched Pro version of VCTrade would ensure all the earlier features available on the VCTrade would be optimized, to provide additional trading features.
For instance, in VCTrade Pro, users can trade on its platform while watching the market volume of trading on a “sales board,” an option that was not available on VCTrade.
Unlike VCTrade where trading is done using an on-the-spot for 20,000 users, SBI stated that VCTrade pro would help take the burden of customers by utilizing an automation system where buyers can place bids for cryptocurrencies and will be matched with sellers.
At the moment, VCTrade Pro has been tipped to provide trading pair for three major cryptocurrencies including Bitcoin (BTC), Ether (ETH), and Ripple’s XRP for Japanese fiat currency. However, plans are being made to add support for other digital currencies in the future.
Good News for Ripple
As reported on Coinfomania late last year, SBI Holdings partnered with Ripple to launch MoneyTap app for faster settlement.
Since VCTrade Pro is a bank-backed exchange, as well as VCTrade, five banks have officially joined other banks using the Ripple-enabled MoneyTap application today, bringing the total number of banks using the app to 25.
SBI Holdings remains one of Ripple’s top partners and would be providing fiat liquidity for XRP/JPY on VCTrade Pro. This could imply that more banks in Japan would likely want to adopt the MoneyTap app for a faster global settlement.
Following the news of the launch of VCTrade pro, XRP got a slight gain of less than 1% trading at $0.32, though the bulls seemingly just arrived in the crypto markets, placing almost all the top 10 coins on the green side.
