#Japan's SBI Holdings Launch #Crypto Exchange, #Coinbase Expanding to Japan and Ripple Launches $50 Million USD University Initiative

Crypto Corner - June 4, 2018

Japan's SBI Holdings Launch Crypto Exchange, Coinbase Expanding to Japan and Ripple Launches $50 Million USD University Initiative

Japanese financial services giant SBI Holdings has announced the launch of "VCTRADE", its new cryptocurrency exchange today. While service is ready "for customers with more than 20,000 people who applied for account opening with advance reservation", general registration is open as of July this year. The announcement indicates that the exchange is initially supporting Ripple (XRP) but more cryptocurrencies will follow.

"As a handling virtual currency, we are planning to handle XRP first and then expand it to bitcoins (BTC) and bitcoin cash (BCH) sequentially."

U.S. cryptocurrency exchange giant Coinbase will be expanding to Japan, according to a report in Cointelegraph today. As per mandate, Coinbase will apply for licensing through the country's Financial Services Agency (FSA) "within the year". Cointelegraph reports:

"Mitsubishi UFJ Financial Group (MUFG) on its expansion to the Japanese market. According to CT Japan, MUFG has invested over 1 bln yen in Coinbase since 2004 through Mitsubishi UFJ Bank and Mitsubishi UFJ Capital, among others."

Ripple (XRP) has announced its University Blockchain Research Initiative (UBRI) today, in which it "has committed over $50 million in funding, subject matter expertise and technical resources" to"17 prestigious institutions around the world". Apart from fostering education about blockchain technology and encouraging adoption, Ripple lists some key objectives of UBRI:

  • Collaborate on research and technical development that will stimulate widespread understanding and innovation in blockchain.
  • Create new curriculum to meet high student demand for learning about blockchain, cryptocurrency and other FinTech topics.
  • Stimulate ideas and dialog among students, faculty, technologists and business leaders on topics of shared interest.

Sam Mowers, Investorideas

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