Japanese crypto startup FXCoin revealed it has completed a third-party allotment of shares with financial services giant SBI Holdings. FXCoin has announced that they will start accepting accounts for physical transactions. FXCoin has reported that they would start trading Bitcoin (BTC) at first with plans to gradually increase highly liquid currencies such as XRP. April 23rd, FXCoin started accepting account registration and will begin trading in May 2020.
FXCoin senior strategist Yasuo Matsuda talked about future plans:
“Until now, crypto assets have been used mainly for speculative purposes due to the magnitude of price movements, but in order to demonstrate the inherent superiority of crypto assets that enable quick money transfer and settlement at low cost, hedging price movements In order to establish the Swap market and expand the usage for the purpose of actual demand, in order to do so, we will proceed with the demonstration experiment of domestic remittance and overseas remittance through XRP, and finally, global cash management, corporate finance and trade.・ We would like to expand the range of applications to fields such as finance. “
FXCoin is backed by SBI and they have stated that they will begin testing XRP for both domestic and overseas remittance. MoneyTap instantly comes to mind when they are talking about domestic remittances.
Here we go! Finally. The new SBI Backed Exchange Sr. Strategist has said; “We will proceed with the demonstration experiment of domestic remittance and overseas remittance through #XRP, and finally, global cash management, corporate finance, and trade”. #Fly_Wheel_Effect https://t.co/UR04NwN689
— CryptoEri (@sentosumosaba) April 27, 2020