SBI Launches Cryptocurrency Exchange VCTRADE for Early Users

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Japan's financial services giant, SBI Holdings, has officially launched its new cryptocurrency exchange, VCTRADE, marking a significant milestone in the country’s evolving digital asset landscape. Initially accessible to early registrants, the platform is set to open to the general public in July 2018, reinforcing SBI’s strategic push into blockchain and crypto markets.

VCTRADE Exchange Now Live for Reserved Users

The VCTRADE exchange has gone live for approximately 20,000 users who pre-registered on the platform back in October 2017. This initial rollout allows SBI to test system performance and security under real trading conditions before a broader release.

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General account applications will become available starting July 2018, giving retail investors across Japan full access to the exchange. This phased launch strategy reflects growing industry caution—especially in the wake of high-profile security breaches affecting other Japanese platforms.

XRP-First Strategy with Plans to Expand

At launch, Ripple (XRP) is the only supported cryptocurrency on VCTRADE. This aligns with SBI’s long-standing partnership with Ripple and its investment in blockchain-based cross-border payment solutions.

However, the company has confirmed plans to soon add support for Bitcoin (BTC) and Bitcoin Cash (BCH), responding to rising demand from retail and institutional investors. These additions will broaden the platform’s appeal and position it as a competitive player among Japan’s regulated crypto exchanges.

Japan remains one of the most crypto-friendly markets globally, with clear regulatory frameworks established by the Financial Services Agency (FSA). By launching a compliant, secure exchange, SBI strengthens its role as a bridge between traditional finance and decentralized digital assets.

Powered by Nasdaq Technology with Zero Trading Fees

One of VCTRADE’s standout features is its use of Nasdaq’s matching engine technology, ensuring high-speed trade execution, scalability, and market integrity. This enterprise-grade infrastructure enhances investor confidence and supports future expansion into more complex financial instruments.

Notably, the exchange charges zero fees for trading, a bold move aimed at attracting active traders and increasing liquidity. However, withdrawal fees will apply—a common practice designed to deter spam transactions and cover network costs.

Security is another top priority. SBI has partnered with SECOM Group, a leading Japanese security firm, to develop a robust cryptocurrency wallet management system. This collaboration underscores SBI’s commitment to protecting user assets in an era where cybersecurity threats remain a critical concern.

Delayed Launch Due to Regulatory Scrutiny

While SBI initially aimed to launch the exchange in early 2018, the timeline was pushed back due to heightened regulatory scrutiny following the $533 million Coincheck hack in January 2018. That incident prompted Japan’s financial regulators to conduct inspections of unregistered exchanges and enforce stricter security standards.

In response, SBI delayed VCTRADE’s full rollout to strengthen its security protocols and ensure full compliance with FSA guidelines. Despite the setback, SBI President Yoshitaka Kitao expressed strong confidence in the platform’s potential, stating he expects it to “rank number one in no time.”

This cautious yet ambitious approach highlights how established financial institutions are navigating the balance between innovation and risk management in the volatile crypto space.

Strategic Investments in Blockchain Infrastructure

Beyond its exchange ambitions, SBI is actively investing in next-generation financial infrastructure. The company is currently conducting large-scale trials of Ripple’s blockchain-based real-time payment settlement system, involving around 38 major Japanese banks.

These trials are part of a broader initiative that includes over 23 additional institutions testing blockchain-powered remittance solutions. Japan’s deep integration with Ripple’s network—described as “well-established”—positions the country at the forefront of global efforts to modernize cross-border payments.

SBI’s leadership sees blockchain not just as an enabler of cryptocurrencies but as a foundational technology for future financial systems, capable of reducing transaction times, lowering costs, and increasing transparency.

Expanding Control in Crypto Security with CoolBitX Acquisition

In a strategic move to strengthen its ecosystem, SBI recently acquired a 40% stake in CoolBitX, a Taiwan-based developer of cryptocurrency hardware wallets. This investment enhances SBI’s control over end-to-end security solutions—from custody to transaction validation.

CoolBitX is known for its secure offline storage devices and patented anti-tampering technologies, making it a valuable ally in combating theft and fraud. With this partnership, SBI aims to offer integrated security services that meet institutional-grade standards.

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This acquisition also signals SBI’s intent to expand beyond domestic operations and build influence across Asia’s digital asset ecosystem.

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Frequently Asked Questions

Q: When will VCTRADE be available to the general public?
A: The exchange opened to pre-registered users in June 2018 and became available to the general public starting July 2018.

Q: Which cryptocurrencies are supported on VCTRADE?
A: At launch, only Ripple (XRP) is supported. Bitcoin (BTC) and Bitcoin Cash (BCH) are scheduled for future addition.

Q: Does VCTRADE charge trading fees?
A: No, trading on VCTRADE is currently free. However, withdrawal fees apply to cover network and processing costs.

Q: What technology powers the VCTRADE exchange?
A: The platform uses Nasdaq’s proven matching engine system for fast, secure, and scalable trade execution.

Q: Is SBI involved in other blockchain initiatives?
A: Yes, SBI is running large-scale trials of Ripple’s blockchain payment system with over 38 Japanese banks and has invested in crypto security through its stake in CoolBitX.

Q: Why was the exchange launch delayed?
A: The launch was postponed to enhance security measures following Japan’s increased regulatory scrutiny after the Coincheck hack in early 2018.

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Final Thoughts

SBI Holdings’ launch of VCTRADE represents more than just another crypto exchange—it’s a signal of institutional confidence in digital assets. Backed by cutting-edge technology, strategic partnerships, and a clear regulatory path, SBI is positioning itself as a leader in Japan’s financial evolution.

As blockchain continues to reshape global finance, companies like SBI are proving that innovation and compliance can go hand in hand. With strong infrastructure, zero-fee trading, and a focus on security, VCTRADE could indeed fulfill its ambition of becoming a top-tier exchange in Asia and beyond.