The XRP community was excited when the eagerly awaited VCTRADE by the SBI Holdings company, opened new account registrations on July 17th this year, for users who did not participate in the pre-registration process back in October last year. This event was monumental for XRP due to the fact that the exchange – through SBI Holdings – had been planning on bringing the digital asset to the spotlight of crypto trading and investing in not only Japan, but the entire world.
Unbeknownst to many, is that the exchange had initially only made new account registration available to individuals from the ages of 20 to 70 years old residing in Japan. The full announcement on the 17th of July stated the following:
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.
From now on, VCTRADE thank you.
VCTRADE has since amended this age requirement to include Japanese residents who are above the age of 70. The new announcement that was made on today, August 9th, stated the following:
Notice of opening a new account opening application acceptance of over 71
Thank you very much for your request to 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.
We look forward to your continued support of SBI Virtual Currency.
This move by VCTRADE can be interpreted to mean that cryptocurrencies and the corresponding trading is no longer an activity enjoyed by the earlier assumed age group of 18 to 35 year old crypto-enthusiasts. It seems the crypto industry has attracted an older generation that up until now, were thought to enjoy retirement and a relaxed lifestyle.
This is an exciting and well thought of move by VCTRADE given that 26% of the Japanese population is above the age of 69.
[Photo, VCTRADE opens new registrations to the public on July 17th. Source, coinspeaker.com]
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