New Japanese cryptocurrency exchange is finally set to launch at the end of the month, after over an year of development.
The new exchange, called Taotao, announced the news in a tweet last Sunday, setting the date of its launch for May 30 at noon, local time. According to the platform website, Yahoo! Japan holds 40% of the entity through its subsidiary Z Corporation. The remaining 60% are held by CMD Labs Inc. The launch of the exchange was originally planned for mid-May, but was later postponed without its team stating a reason.
Initially the exchange will offer trading in both Bitcoin and Ethereum, and will have a mobile app in addition to its online platform. Margin trading will also be available, and not only in BTC and ETH, but in Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH). Users wishing to use the new exchange will be offered an “easy registration/sign in” through a Yahoo! account.
Thanks to its previous FSA-licensed iteration, the BitARG exchange, Taotao has proudly displayed on its website its registration number, which is 00001. Yahoo! Japan bought a 40% stake in BitARG last March, and as reported by the Nikkei Asian Review at the time, was planing to develop a new exchange platform using BitARG’s technology.
Recently hacked exchange Binance has also hinted the launch of margin trading as part of a major update. The exchange released teaser screenshots of its new interface on Twitter, showcasing its “dark” and “light” mode over a view of margin trading.