The crypto wave seems to have hit even the conventional banking organizations. While there are a few banks in the process of launching their own cryptocurrency, SBI Holdings has set its foot in a new direction. As per their official announcement, SBI Holdings is launching VCTrade Pro, an exchange service for virtual currency. A partner of Ripple, SBI Holdings is based in Tokyo, Japan.
In their official tweet, SBI Holdings stated that from 31st July, they are unveiling virtual currency physical exchange service named “VCTRADE Pro” with virtual currency exchange system. The company further revealed that they are listing three trading pairs initially – BTC/JPY, ETH/JPY, and XRP/JPY. More services will be added in the future, added the official blog post.
Explaining what VCTrade Pro is, the company said that their new endeavor is unlike their VCTrade offering (a sales point system). The Pro version finishes a sales agreement between the customer and the entity for cash digital currency when it’s promised by rendering sell and bid prices per virtual currency.
VCTrade was introduced by SBI Holdings in the previous year. The Pro version will reportedly have all the features of VCTrade but in an optimized setting to offer more trading features.
Apart from this, Money Tap, the sister firm of SBI Holdings, has announced its decision to implement an upgrade as it has received investments from as many as 5 prominent banks. As per SBI, Ripple is showing keen interests in the growth of Money Tap. Post the domestic investment completion, the document disclosed that Money Tap will consider the investment acceptance now from Ripple US to strengthen the technical cooperation as well as initiatives’ promotion concerning global remittances.