Japanese financial giant SBI Holdings announced on Monday June 4, that its in-house cryptocurrency exchange is now live.

It’s Called VCTRADE, the service is currently only open for users who have pre-registered with the platform in October 2017, the company said in the announcement and expects it to be available for a wider public in July 2018.

SBI said that VCTRADE will focus on the trading of XRP. The decision is perhaps not entirely surprising given SBI Holdings existing works in piloting the remittance technology provided by Ripple that uses a distributed ledger to make cross-border transactions.

This is Japans first crypto exchange that is fully backed by a major financial institution. This is a huge step for XRP.

Here is the Press release: http://www.sbigroup.co.jp/english/news/pdf/2018/0604_a_en.pdf

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