Taotao, a new Japanese Yahoo!-backed crypto exchange plans to launch in May

26 Mar, 2019
by Joeri Cant
Exchange
Taotao, a new Japanese Yahoo!-backed crypto exchange plans to launch in May

Back in April 2018, 'Yahoo! Japan' acquired a 40% stake in crypto currency exchange BitARG, which has since been rebranded to Taotao, and is now reportedly set to launch in May.

According to a CNBC report in April 2018, Yahoo! Japan said that it had acquired a 40% stake in BitARG Exchange Tokyo.

The Japan-based cryptocurrency exchange has since been rebranded to Taotao, and is planning to launch in May with the approval of Japanese authorities.

'Yahoo Japan Corp said on Friday it would buy a minority stake in a Tokyo-based cryptocurrency exchange, becoming the latest major Japanese financial services provider to shrug off security concerns and join the digital money industry', the report said in April 2018.

The Yahoo-backed crypto exchange will start trading a limited range of cryptocurrencies in May. Initially, it will introduce Bitcoin and Ethereum. At a later stage it will introduce margin positions for Ripple, Bitcoin Cash, and Litecoin.

Read more: Will central banks accumulate Bitcoin? "Hugely impactful on the price"

In December 2018 Chepicap reported that Japan’s top financial regulator the Financial Services Agency confirmed that there are more than 190 companies that expressed their intention to enter the Japanese cryptocurrency market.

'Including preliminary consultation/inquiries regarding registration, more than 190 operators are expressing their intention of market entry', the FSA said.

Companies that want to offer services must be registered with the FSA and request permission to operate.

Even though the necessary approvals might add additional work to the registration process, this system provides clarity in the space, protects investors and also allows blockchain companies to keep on innovating before entering the Japanese cryptocurrency markets.

3 Undervalued ALTCOINS in 2019!Subscribe to the Chepicap YouTube Channel for more videos!

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Chepicap is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!

 

Read more: How to tip and receive Bitcoin via the Lightning Network with Tippin.me

Poll

Which is your favorite exchange?

(16 votes)

Add a comment

Cool news but better to stay at checked international platforms like Binance and Bitfinex.
27 Mar, 2019 - 00:41

Check out the latest news

You will be logged out and redirected to the homepage