Japan’s SBI Virtual Currencies Platform VCTRADE Lists Bitcoin Cash (BCH)
SBI Group, also referred to as the Strategic Business Innovator Group, is a financial services company based in Japan. The bank is supposedly the first of its kind to create a cryptocurrency exchange, which they’ve named the SBI Virtual Currencies. To show that they are in fact a first mover within the finance industry, the bank has officially listed BCH, the second coin after Ripple (XRP).
The company made the announcement on their website, which went as follows:
“SBI Virtual Currency will start handling BCH from Monday, June 11th. A currency pair newly available for trading: BCH/ JPYAs for the handling of bitcoins (BTC), please wait for a while until the start.”
In addition to BCH’s listing, the SBI company has also announced the launch of its native token, VCTRADE. For the time being, it is expected to be open to users who have registered earlier on in July 2018.
CEO of Bitcoin.com and a representative of BCH, Roger Ver, appears to be doing his best to show that BCH is in fact doing better than many alt coins. Earlier this week, many crypto fanatics took to social media platforms to point out that Dogecoin might be superior to BCH. Having come across such claims, Ver posted a video on YouTube titled, “Bitcoin.com-Official Channel”.
In the video, he compared DOGE to BCH. He pulled up Satoshi Pulse, a paid version of CoinMarketCap, and placed the two respective coins one on top of the other. He pointed out that DOGE’s market cap is only 404 million, whereas BCH’s is 17.80 Billion. Ver also stated that besides having about the same transactions done on both platforms, it’s the trading volume that counts. In particular, he said:
“BCH is 100 times more popular than dogecoin when it comes to people trading it. While the transactions are similar, it’s the trading that matters.”
Ver concluded his video by suggesting DOGE as a fun and joke project, while BCH a serious one. At the time of writing, the value of BCH dropped by 10%, sitting at approximately USD$1000. Many believe this was due to the drop in price of Bitcoin (BTC), which has been downward trending for some time now.