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Ripple's Japanese Partner, SBI Group Giant, Offers Clients Access to Crypto "Cool X Wallet"

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Fri, 02/05/2021 - 12:49
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Yuri Molchan
Major Ripple partner SBI Group announced an offering to grant customers access to Cool Wallet on SBI's VC Trade exchange if they hold a certain amount of cryptocurrencies
Ripple's Japanese Partner, SBI Group Giant, Offers Clients Access to Crypto "Cool X Wallet"
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In his recent tweet, the CEO of the SBI Group, Yoshitaka Kitao, shared a press release from SBI about providing crypto holders with access to Cool X Wallet.

This would allow them to withdraw digital assets from the company's exchange, SBI VC Trade, or simply use this plastic card as a cold wallet.

Thus, SBI's crypto exchange branch is expanding crypto adoption in Japan.

XRP
Image via Twitter

Accessing the new SBI VC Trade crypto wallet

A press release published on the SBI website states that customers who hold a balance of 1,000,000 yen ($9,471) or more on the SBI VC Trade crypto exchange are eligible to access the Cool X Wallet. This wallet is the size of a plastic card that can be used both for spending crypto by withdrawing it from one's account or simply by storing one's crypto on this card as in a cold wallet.

Cool X Wallet, the press release says, meets high security standards, like encrypting the private key and managing it offline.

Access to the wallet is provided free of charge if a user meets the aforementioned condition of keeping the necessary minimum balance on his/her SBI VC Trade account.

Related
Japanese Financial Giant SBI Group Introduces XRP Lending

XRP users are eligible to use the wallet

As covered by U.Today on Feb. 4, SBI VC Trade has launched a crypto lending service for users of the fourth-largest cryptocurrency, XRP.

XRP holders now can use their holdings to earn interest. Initially, the service launched in November last year worked with Bitcoin only (at a minimum deposit of 0.1 BTC), but it has now expanded to XRP.

Users of this lending service are also eligible to access the Cool X Wallet from SBI VC Trade.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.