According to Crypto Eri, it is the only Japanese crypto exchange to do so.
Japanese crypto exchange SBI VC is offering delegation services to FLR holders.
The SBI Group subsidiary disclosed this in a tweet yesterday, noting that it has reduced the minimum FLR required from 100,000 to 50,000 FLR. SBI VC Trade also reveals plans to bring down this minimum limit eventually.
Notably, popular XRP community influencer Crypto Eri also shared the development, asserting that the crypto exchange is the only one in Japan to offer the service. Consequently, the influencer disclosed that she expects the service to gain traction.
?SBI VC Trade, *as a service for #FLR holders* (the only exchange in Japan), is offering delegation service for holders.
No doubt, people will move their assets to SBI to have it done for them.
A min of 50,000 or more FLR, with further relaxation of min. expected in future. https://t.co/UQSI4v259x
— ?Crypto Eri 220k+ Followers (Beware of Imposters) (@sentosumosaba) February 3, 2023
The announcement by the Japanese crypto exchange comes a day after Flare Network held a presentation in Tokyo at the behest of GMO Internet. It bears mentioning that SBI VC Trade executives were also in attendance, as SBI VC Trade managing director Tomohiko Kondo shared a picture with Flare Network CEO Hugo Philion from the event on Thursday.
Flareイベントに来ましてHugo氏と記念撮影? pic.twitter.com/TSZaRwASuh
— 近藤 智彦@SBI VC Trade (@tomohiko_kondo) February 2, 2023
At the event, Flare Network senior solidity developer Filip Koprivec demonstrated the purchase of an NFT on Flare using XRP, according to a tweet from Crypto Eri.
?Breaking Demo
Last night in Tokyo, Senior Solidity Engineer @j00sko reserved an NFT on @FlareNetworks, for example – paid in #XRP (XRPL?) & ?State Connector gives payment PROOF so minting takes place.
(Full Presentation coming)
Pay in BTC DOGE LTC well…#ConnectEverything pic.twitter.com/iWZorgxjlP— ?Crypto Eri 220k+ Followers (Beware of Imposters) (@sentosumosaba) February 3, 2023
It is worth noting that SBI Group has close ties with Ripple. SBI Group CEO Yoshitaka Kitao was a former Ripple board member, and both companies maintain business relations to date via its SBI Ripple Asia joint venture. Similarly, Ripple is a Flare investor, announcing its investment in a Nov. 2019 blog post.
Notably, Flare Network gained notoriety with the help of the XRP community, that it promised a now controversial airdrop based on a screenshot of XRP holders in December 2020.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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