Bitcoin and Bitcoin Cash Enter Japan’s Largest Crypto Exchange

Two of the crypto market leaders, Bitcoin and Bitcoin Cash have finally entered Japan's largest exchange platform - SBI Virtual Currencies, which launched its new exchange service, VCTRADE

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Clients who pre-enrolled can now trade the Japanese yen for BTC, BCH, and XRP. The entering of Japan into the cryptocurrency exchange market is expected to be one of the big game-changers in the trading industry.

Soon after the official release, Japanese social media influencers such as Ihayato, who has 177K followers, experimented with the administration for BCH and XRP, who suggests that significant benefits from the coins’ introduction are expected at a later stage, rather than immediately.

SBI’s Virtual Currencies is one of the 16 government-approved crypto traders in Japan, managing the recently launched VCTRADE service on the 4th of June exchanging only the XRP/JPY pair. At this early stage, the service is exclusive to the pre-enrolled users. VC trade will be open to the public on the 9th July and users will be able to trade BCH/JPY, BTC/JPY, and XRP/JPY.

The price range of the three cryptocurrencies starts from 500 yen (~US$5.5) and tops at 5 million yen (~$45,261). Furthermore, users can place their requests in cryptos in the range of 0.0001 and 40 BCH, 0.0001 and 5 BTC, or 10 and 70,000 XRP.

According to the cryptocurrency news media world, SBI Group, which alongside SBI Virtual Currencies runs a security business, announced at the organization's Q3 income conference that Ethereum (ETH) is likely to be available on the exchange platform in the future. Furthermore, they stated that smaller cryptocurrencies aren’t expected to be available on the exchange trade because of their volatility and unknown life cycle.

Also, SBI Group intends to change over clients from its securities business, which dominated the Japanese market. SBI Securities states that it is the market leader in offering individual stock exchange value, number of records, deposits, and benefits. SBI Securities currently manages nearly 4.17 million accounts worldwide, and it’s boosting online retail business.

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