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

Japanese financial giant SBI Holdings is preparing to start trading contracts for difference (CFDs) on BTC, ETH and XRP through its SBI FX Trade division on August 31.

According to a statement from SBI Holdings, the CFD trading service for BTC, ETH and XRP will be launched on August 31. The new service will be offered through the trading division of the Corporation – SBI FX Trade. Registration of new users on the platform is already open.

The new offer will allow SBI clients to trade CFDs on cryptocurrencies against the Japanese yen and the US dollar in six trading pairs. According to the statement, SBI FX Trade will be the first Forex broker in Japan to offer CFD trading on cryptocurrencies.

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.

In December last year, the CEO of SBI Holdings said that the XRP dividend payment program will be launched before the end of the financial year, which will end in March 2020. We also recall that earlier this year SBI Holdings and GMO Internet announced that they will use a mining center in Texas.