SBI Holdings’ VCTRADE raises upper age limit for new customers as demand picks up
VCTRADE, a Japanese cryptocurrency exchange, of SBI Holdings raised the upper age limit of its new account applicants on account of an increased demand. VCTRADE, the first bank backed crypto exchange, opened new account registrations on July 17 this year. This effort was made for the users who couldn’t take part in the pre-registration process last year.
The new account applications which were announced on the 17th of July were made available only for Japanese individuals of from the ages of 20 to 70. The announcement read,
“Thank you very much for giving us your expectations for the start of service by many customers. Starting accepting applications for opening new accounts of our virtual currency exchange service (VCTRADE) from today. Account opening is available for individuals from 20 to 70 years old residing in Japan. Applications for establishing accounts from corporate customers are not currently accepted.”
VCTRADE decided to change the current age restriction. The announcement issued today read,
“Notice of opening a new account opening application acceptance of over 71. Thank you very much for your request for our service from many customers. In order to respond to customer’s request, we will start accepting applications for opening new accounts targeting individuals who are 71 or older residing in Japan from today.
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This announcement from a famous cryptocurrency exchange hints that cryptocurrency is gaining popularity among the older generation as well. The cryptocurrency market dominated by young investors are attracting prospective investors from the senior citizens of the country. VCTRADE is the first cryptocurrency exchange to be backed by a bank. VCTRADE backed by SBI holdings initially supported the trading of Japanese Yen against Ripple’s XRP. On the day of its launch, the exchange was brimming with new account applicants. The CEO of SBI Holdings believe that VCTRADE will become the number one exchange in terms of trading and user experience.
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