On December 21, SBI Virtual Currencies, the subsidiary of the Japanese financial giant Strategic Business Innovator [SBI] Group, revealed that the top three cryptocurrencies, XRP, Bitcoin [BTC] and Ethereum [ETH] can be received from other virtual currency exchange wallets.

The company also stated that the delivery of the sending [issue] service is scheduled to be released sequentially. The news was met with a lot of excitement majorly by the XRP community, who had the common notion that SBI’s move will push XRP’s adoption.

The company has also gone ahead and stated that they will begin providing virtual currency receipt service from December 21. This is made to ensure that the company will be able to receive XRP,  Bitcoin, and Ethereum from any other virtual currency trader. SBI’s latest circular also added:

“As for Bitcoin Cash (BCH) among the virtual currencies handled by the Company, it is confirmed that normal operation of the blockchain network can be confirmed with the hard fork, and if there is no obstacle to maintenance of customer assets and transaction with customers We plan to start offering from the time we decide.”

SBI Virtual Currencies was made with the intent of capturing a “new value asset management opportunity”. SBI was also in the news recently when the Ripple partner announced that its subsidiary SBI Ripple Asia was registered as a substitute agent for electronic payments. The announcement also came with the added advantage of using SBI Ripple Asia’s smartphone application ‘MoneyTap.’

SBI had stated that:

“SBI Ripple Asia will provide appropriate information to users in addition to the registration of electronic payment agency operators in order to ensure that the electronic payment agency business pertaining to “MoneyTap” will be properly implemented in the future.”

SBI had further said:

“Appropriate implementation of the contract and the disclosure obligations of the participating banks. We strive to achieve a safe and easy-to-use, non-friction settlement, and through cashless, we will develop new industries and reduce social costs and increase productivity.”


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(Excerpt) Read more Here | 2018-12-21 16:35:34
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