Japanese financial group SBI to launch CFD trading on BTC, ETH and XRP

Japanese financial giant SBI Holdings is preparing to launch CFD trading on BTC, ETH and XRP from August 31 through its SBI FX Trade division.

The BTC, ETH and XRP CFD trading service will launch on August 31, according to SBI Holdings. The new service will be offered through the corporation’s trading division – SBI FX Trade. Registration of new users on the platform is already open.

The new offering will allow SBI clients to trade cryptocurrency CFDs against the Japanese yen and the US dollar across six trading pairs. SBI FX Trade will be the first Forex broker in Japan to offer cryptocurrency CFD trading, according to the announcement.

SBI Holdings is one of the largest financial institutions in Japan and has been actively developing in the cryptocurrency and blockchain industry in recent years. Back in 2018, SBI announced  plans to release a payment app for iOS and Android based on the Ripple blockchain, and in 2019 the Japanese financial giant created a subsidiary that will produce chips for cryptocurrency mining.

Last December, the CEO of SBI Holdings revealed that the XRP dividend payout program will be launched before the end of the fiscal year, which ends in March 2020. As a reminder, SBI Holdings and GMO Internet announced earlier this year that they will use a mining center in Texas.

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