On May 30, Japan will launch a new crypto exchange called Taotao, 40% owned by the American Internet giant Yahoo! Japan.
This was announced on the official Twitter account of the platform.
At the first stage, the website will provide its customers with the opportunity to trade in Bitcoin and Ethereum. There will also be available margin trading in Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple. According to unconfirmed reports, Taotao is a former BitARG exchange that was purchased by Yahoo! Japan for 2 billion yen (19 million USD).
Initially it was assumed that the launch of the platform would take place in the middle of May, but at the last moment the start was postponed without explanation. It is worth to note that Taotao is regulated by the FSA – Financial Services Agency and has a license to provide crypto exchange services.
In the previous week, several Japanese exchanges of digital currencies reported a threefold growth in the number of new accounts amid increasing Bitcoin. Meanwhile, local regulators began to worry about the possibility of money laundering in the crypto-asset industry, so they thought about tightening the rules in this area.
Many cryptocurrency companies are starting to understand that users are demonstrating a huge demand for marginal cryptocurrency trading, so they meet and run such services. For example, Changpeng Zhao (CZ) recently announced Binance 2.0, which will provide the opportunity to trade with leverage.1