VCTRADE Opens Withdrawals for Holders of XRP, BTC, and ETH on the Crypto Exchange

SBI VCTRADE is based out of Japan and has recently made some changes to their cryptocurrency platform. In a translated tweet on February 1^st, the platform announced that customers would now be able to withdraw in XRP, BTC, and ETH. The official website revealed that this service only recently became available on January 31^st.

📢【お知らせ】
1月31日より、仮想通貨の送付（出庫）サービスの提供を開始いたしました。

XRP｜BTC｜ETHを、当社指定のハードウェア・ウォレットを利用して送付することができるようになりました。
⇒ https://t.co/LeAHG14Kq1
※指定ウォレットの詳細
⇒ https://t.co/k1Ot6dNumX　#SBIVC pic.twitter.com/UgtxYjcPtb

— SBI VC Trade (SBI VCトレード） (@sbivc_official) February 2, 2019

Due to the association that SBI’s crypto platform held with XRP, many traders and enthusiast for crypto were bullish for most of 2018. It was a shared belief that, after the exchange went live, that the XRP trade volume and other liquidity would drastically increase, possibly bringing the value to $10 by the end of the year last year.

SBI’s CEO, Yashitaka Kitao, has consistently stated their support for XRP and the Ripple technology that supports it. Even last year, he had been part of the many that believed that XRP would surpass the $10 value. When regulatory uncertainty shifted certainty in the market, a bear market gained momentum. Hacking started to become the natural correction, and XRP did not live up to the hype it promised.

VCTRADE hopes to be one of the most secure and largest crypto exchanges around, as the CEO expressed towards the beginning of last year. He said,

“When we do it, it will be number one in the blink of an eye so quickly, so even if a tremendous number of customers come, we can build a system that can bear. We have to pursue safety thoroughly.”

Launching officially for the public on July 17^th and was the recipient of many new registration applications right away. By the 21^st of December, the company made it possible to deposit BTC, ETH, and XRP.