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Japanese Financial Giant SBI Holdings Launches Short-Term Crypto Derivatives

Already live on SBI's forex trading platform, the contracts for difference (CFDs) are available in bitcoin, ether and XRP flavors.

Aug 28, 2020 at 1:41 p.m. UTC
Updated Sep 14, 2021 at 9:49 a.m. UTC

Japanese financial firm SBI Holdings is launching trading for a type of cryptocurrency derivative called contracts for difference, or CFDs.

  • Already live on its foreign exchange trading platform, SBI FX Trade, the contracts come in bitcoin (BTC), ether (ETH) and XRP flavors.
  • The firm said in an announcement Friday that traders can pair the crypto assets with both the U.S. dollar and the yen, meaning there are six CFD choices in total.
  • Orders can be placed from around 15 yen ($0.14) to a maximum open position of 500 bitcoin ($5.73 million at press time), for the BTC/JPY pair.
  • SBI Holdings said it also has a mobile app for the CFD trading and orders can be placed around the clock on any day of the week.
  • Users can make use of leverage – in effect, borrowing from the platform – to make trades.
  • CFDs are very short-term contracts that pay the difference in price between the open and closing trades.
  • They are not without controversy and a U.K. financial regulator, the Financial Conduct Authority (FCA), has said it plans to ban these types of derivatives for retail traders.
  • The FCA said last year that such financial products are “ill-suited” to retail investors “who cannot reliably assess the value and risks of derivatives or ETNs that reference certain cryptoassets.”
  • SBI Holdings specifically said in its announcement it will be catering to both beginner and expert traders.

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