Japanese exchange Taotao, 40% owned by Internet giant Yahoo! plans to begin work in late may. Taotao is one of the few cryptocurrency sites in Japan, which received a license from the local regulator FSA. At the start will be available for Bitcoin and Ethereum. For margin trading in the future will appear as Ripple, Litecoin and Bitcoin Cash.
From Yahoo platform will be built from scratch, but based on the system BitARG. The acquisition of shares of the Tokyo firm will be made through subsidiary Yahoo’s YJFX Tokyo’. About the investment plan under the agreement both companies will report to the FSA, but BitARG already has a license from a regulator.
The acquisition cost is estimated at $19 million in Additional financial aid BitARG get in early 2019.
First, similar plans by Yahoo! Japan announced in may last year, at the time when was published the application for the acquisition of Taotao. The sum of transaction is estimated in $19 000 000. Announced the launch of the platform are to be held in may of this year, those interested can already apply for registration and to help the site in promotion.
Managers and engineers YJFX will begin the development of a new platform on the basis of BitARG. They will also be working on the structure of corporate governance, the system of the client organizations and internal controls.
Yahoo is not a novice in the field of cryptocurrency trading. Since August of last year, the opportunity to trade cryptocurrencies appeared on the platform Yahoo Finance: first, in the desktop version and then in the mobile app.
After a long resistance by the government of Japan concerning the cryptocurrency, they still become more favorable to kryptomere. But the approval by regulators Taotao is the first step in this direction.
Message Yahoo Japan will launch its own cryptocurrency exchange appeared first on crypto.by.