SBI VC Trade Crosses 2 Million Accounts as Japanese Firms Buy Bitcoin and XRP

SBI VC Trade, owned by SBI Holdings, said it has crossed 2 million registered accounts as local businesses began buying Bitcoin and $XRP amid the yen’s historic decline, according to an SBI Group report cited by Bitget.

“SpaceX IPO powers record $3”

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Bitget says the purchases are being used to pay bonuses and dividends to shareholders through SBI VC Trade’s corporate service SBIVC for Prime, rather than classic exchange speculation.

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Bitget also links the trend to SBI’s rollout of Japan’s first regulated trading of Ripple’s dollar-pegged token RLUSD and the yen trust token JPYSC, tied to the joint venture SBI Ripple Asia.

Bitget adds that SBI says it is in first place in Japan by the number of coins available for staking, and that the 2 million accounts figure recorded on July 6 came from a merger of accounts from the VCTRADE and BITPOINT platforms after an April acquisition of BITPoint Japan.

The Bitget piece further frames the goal as building an on-chain ecosystem based on Ripple and XRPL technologies to become the number one crypto exchange in Japan, naming Coincheck’s 2.62 million accounts and bitFlyer as competitors.

CoinDesk Data’s latest Stablecoins & Tokenized Assets report says on-chain trading volume climbed 145% from May to $3.86 billion in June as investors piled into blockchain-based versions of SpaceX (SPCX) stock after the aerospace company’s initial public offering.

The report says tokenized SpaceX shares accounted for $1.19 billion of the total, or about 31% of all tokenized equity trading during the month, with Backpack Securities’ SPCX token at $1.08 billion in onchain trading volume.

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CoinDesk Data also reports that the sector reached a record $1.53 billion in market capitalization during June, up 6.64% from the previous month and marking its fifteenth straight month of growth.

CoinDesk says the surge followed SpaceX’s $75 billion IPO, described as the largest on record, valuing the company at roughly $1.8 trillion on a fully diluted basis.

The same CoinDesk report notes that stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.

MEXC, in a June trading highlights release carried by The Malone Telegram, said the second round of SPACEX (PRE) drew more than 36,000 participants and approximately 118 million USDT in subscriptions, and that it was the first time a single Launchpad round has passed $100 million.

“Tokenized equities posted record trading activity in June as investors piled into blockchain-based versions of SpaceX (SPCX) stock following the aerospace company's blockbuster initial public offering”

CoinDesk

The release says SpaceX futures ended June as the most traded US equity contract on the platform, and that the tokenized SpaceX stock led all tokenized equities on the spot side.

MEXC reported that the SPACEX (PRE) sale followed a smaller first round in May and returned up to 38% during the reporting period, while tokenized US stocks doubled their presence in the ten most traded TradFi spot assets compared with May.

In the same release, MEXC CEO Vugar Usi said, "Users now expect one account that covers everything they want to trade, whether that is a token that was listed yesterday or a company that has not gone public yet," and added, "June showed the size of that demand, and we intend to keep the Pre-IPO and tokenized stock pipeline open to meet it."

The Malone Telegram also states that Launchpool offered new users an APR of up to 490%, that Airdrop+ grew its prize pool from over 500K to over 700K USDT and logged 200,000 participants, and that the whole TradFi shelf reached 237 futures pairs.