More than two years after the initial announcement in Japan, the world's first public crypto exchange was launched. A platform called VCTRADE was launched by the Japanese group of companies SBI Holdings.
Initially, SBI Holdings launched a platform for users who were registered in 2017, when the project was still in development. At the same time, the group of companies continued work on a full-fledged launch of VCTRADE on one of the world's largest crypto-currency markets, where all exchanges must be licensed.
Now SBI Holdings accepts applications from Japanese users who wish to create accounts. The VCTRADE platform can be used by Japanese residents aged 20 to 70 who are retail investors. Applications for corporate and institutional investors are pending.
During the preliminary launch of VCTRADE in June this year, it was assumed that trading on the exchange could be tokens Ripple (XRP), working on RCL. The SBI Holdings Group is a partner of Ripple, which together with SBI Ripple Asia, has studied the blockchains and tokens of this crypto currency for use in Asian markets. However, a little later the creators of VCTRADE added support for Bitcoin (BTC / JYP) and BitcoinCash (BCH / JPY).
Although SBI Holdings received a license from the JFSA in the fall of 2017, the launch of the exchange was not carried out at the beginning of 2018, as originally planned. The reason for the six-year delay was the need to improve the level of platform security. At this step SBI Holdings decided after earlier this year the currency exchange Coincheck was attacked by hackers who stole about $ 530 million.