Resurgence: Coincheck Adds Support for XRP and FCT Tokens

Japan-based crypto exchange, Coincheck, has announced the resumption of the trading for all assets on its platform today, November 26.

According to a press release made by Monex Group, the Japanese Internet broker that purchased the exchange earlier this year for $33.5 million, the firm stated that in line with this development, it will be adding support for Ripple (XRP) and Factom (FCT) token.

“Coincheck, Inc. is pleased to announce that it resumed depositing and purchasing services for XRP and FCT
today,” part of the report reads. 

This development is coming ten months after the exchange lost $534million worth of XEM tokens to hackers. Since then, the exchange has been struggling to stay in business and made a strong comeback earlier this year.

Providing a More Secure Platform

After the hack, the exchange froze deposits and withdrawals for all crypto-currencies to protect the integrity of customers’ assets and to investigate the cause of the loss.

Coincheck had worked tirelessly to improve its management structure and internal control by carrying out business improvement plans to avert any subsequent attack in the future.

From March till date, the exchange has resumed operations for its existing services from new account openings for Tokyo residents to depositing, purchasing, remitting and selling cryptocurrencies.

“Coincheck has been steadily resuming as each service’s technical safety is confirmed through the support of external experts,” the statement reads.  

More to Come

Coincheck is now anticipating the rollout of other services including leveraged transactions for new positions, JPY depositing through convenience stores, Coincheck DENKI for electricity services and others.  

Earlier this month, Coinfomania reported that Coincheck added support for ETH, XEM, and LSK. The Addition of XEM was a bit surprising to users because XEM was the token stolen by the hackers.

Whether Coincheck will eventually grow into one of the largest crypto exchanges once again is a question only time will answer.