SBI postpones crypto exchange launch

SBI Group, Japan’s banking giant has shockingly postponed the launch of its fresh crypto exchange once again, citing a necessity to step up security measures.

In Tuesday’s announcement Tuesday, the financial institution told that while the fresh platform, dubbed SBI Virtual Currencies has already got down to providing account registrations to a limited number of priority investors, it can’t be said about ordinary folks. It’s so sad, but the date for the very first trading day has been postponed once again.

In a concise explanation of the actual reasons for this delay, SBI told it will require more time to proceed with improving security measures and also to determine how to have asset custody managed. Finalizing its customer management system is another company’s concern.

The news actually marks the fresh update in a long-lasting move toward the debut of the Asian country’s first bank-backed crypto exchange.

SBI’s intention to start SBI Virtual Currencies first emerged in October 2016, while in September 2017 the company finished business registration with the country’s Financial Services Agency.

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