Bitcoin and Bitcoin Cash have been added on SBI crypto exchange. This announcement was made today. The crypto exchange is a subsidiary of one of the largest financial service groups in Japan. Starting Monday 18th customers will be able to trade BTC/JPY and BCH/JPY through the exchange’s Vctrade service.
Addition of Bitcoin and Bitcoin Cash comes after the exchange added Ripple on June 8th making it the first crypto to trade on the platform. The crypto exchange is one of the 16 cryptocurrency exchange platforms that are approved by the government to operate in Japan.
SBI launched Vctrade platform on June 4 with Ripple being the only crypto coin traded there. However, the addition of BTC and BCH means the platform now has three trading pairs (BTC/JPY, BCH/JPY, XRP/JPY) and this gives crypto traders in the country more options.
For all the crypto coins, users will be able to trade between 500 yen ($5.5) and 5 million yen ($45,261). Also, they can place orders in crypto coins that range between 0.0001 to 5 BTC, 0.0001 to 40 BCH and 10 to 70,000 XRP.
In the press conference, SBI group also mentioned the possibility of adding Ethereum on the exchange in the near future. The group goes on to say they don’t plan to add smaller crypto coins to the surprise of many for reasons only known to them.
To help gain a percentage of the market share the group plans to convert some users from its existing securities business and if all goes to plan then the platform won’t have any problems achieving this goal given that its securities business is the largest in Japan.
According to the company’s website, SBI securities has roughly 4.17 million accounts and is number one in the number of accounts, deposits, individual stock trading value and profitability.
Now that Bitcoin and Bitcoin Cash have been added on SBI exchange, will this help the crypto exchange gain a percentage of the market share? Share your thoughts in the comment section below.
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Original source: https://cryptolinenews.com/2018/06/18/bitcoin-and-bitcoin-cash/