Taotao, a Japanese cryptocurrency exchange will be launching its trading service from May 30, as reported by Cointelegraph Japan on Monday, quoting a “https://twitter.com/taotao_ex/status/1132842984158838794″ target=”_blank” rel=”noopener nofollow noreferrer”>social media update from the exchange.
Originally, Taotao planned to launch in mid-May, however, it got postponed without stating its motivation. Owned 40% by the Internet giant Yahoo! Japan’s YJFX, Taotao initial offering will be bitcoin (BTC) and ether (ETH). The platform will also avail margin trading in litecoin (LTC), XRP and bitcoin cash (BCH), addition to BTC and ETH.
In April 2018, Yahoo! Japan closed the 40% percent equity deal in the exchange, which was then called BitARG. Notably, the launch date marks almost a year since the acquisition, that was rumored to have cost the company around 2 billion yen.
Cryptocurrency has been enjoying a surge of popularity among new Japanese traders, all thanks to the bull market that began in April. Several domestic platforms reported an increase of up to threefold in new account openings, last week.
Meanwhile, the country’s regulators are maintaining tight control over the market, following several highly-publicized hacks that occurred last year, amounting to tons of losses. The Financial Services Agency announced that it will review exchanges’ Anti-Money Laundering (AML) activities before the international inspection from the Financial Action Task Force.
In similar news, market heavyweight Binance, who also suffered a hack recently, hinted towards a soon to be launched margin trading last week.
Read more:Central Bank of Malawi, Africa Issues Warning Against Cryptocurrency
Image Source – Taotao Twitter
