New reports out this week suggest that Ripple XRP, among other cryptocurrencies is about to see an exciting new wave of adoption through the world’s first ‘bank-owned’ cryptocurrency exchange. The cryptocurrencies in question include; XRP, Bitcoin and Ethereum.
The bank in question, SBI Holdings (Japan) have created a side-project known as VCTRADE, a cryptocurrency that is owned by and backed by a traditional banking firm, making it the world’s first bank-owned crypto exchange. VCTRADE was initially established to provide retail level investment options to normal investors, people who wanted to buy cryptocurrencies for personal use. Now however according to recent reports, VCTRADE will fully open its doors to institutional investors, allowing huge sums of money to flow into the markets and in turn, encouraging institutional investment into Bitcoin, XRP and Ethereum.