World’s First Bank-Owned Cryptocurrency Exchange Launches Publicly in Japan


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Nearly two years after its initial announcement and months of delays this year, the world’s first bank-owned cryptocurrency exchange finally sees its public launch in Japan.

With an announcement on Tuesday, Japanese financial giant SBI Holdings has formally launched its cryptocurrency exchange platform, dubbed ‘VCTRADE’.

As reported by CCN in early June, SBI first announced a limited launch of the exchange for some 20,000 pre-registered users – enrolled during an early alpha last year – while holding off on a wider public launch in Japan, one of the world’s largest cryptocurrency trading markets where exchanges are required to be licensed under regulatory laws.

SBI Holdings, through its wholly-owned subsidiary SBI Virtual Currencies– the operator of VCTRADE – has now begun accepting applications from Japanese users for new accounts. The public launch sees the bank-backed cryptocurrency exchange open its doors for all Japanese residents between 20-70 years. At this time, the exchange is only accepting retail investors with no applications from corporate or institutional investors currently under consideration.