Coincheck Reopens Crypto Services For Bitcoin and Three Others

Japanese cryptocurrency exchange Coincheck has announced the reopening of some features on its platform including new signups in an official press release on Tuesday, October 30.

According to the statement made by Monex Group, the Japanese Internet broker that purchased the exchange earlier this year, customers in Japan can now create new accounts that will support deposit and purchase of Bitcoin (BTC), Ethereum Classic (ETC), Litecoin (LTC), and Bitcoin Cash (BCH).

“We announce that Coincheck has resumed ‘new account openings’ and ‘customers’ depositing and purchasing some cryptocurrencies services today,” part of the statement reads.

Monex has stated that a strict know-your-customer (KYC) process would be in place for users aiming to open a new account on the platform.

This will be in line with regulations demanded from exchanges by the Japanese regulator, Financial Services Agency (FSA).

Coincheck’s challenges after hack

In January, Coincheck was in the news after a hack of over USD 500 million worth of digital tokens on the platform.

Since the hack, the crypto exchange had struggled to be in business and made efforts to improve its governance and internal control by carrying out business improvement plans.

Part of its effort to ensure a sustainable crypto exchange platform include the suspension of most of its services and the shocking acquisition by Monex group.

In February, the exchange resumed the withdrawal of Japanese yen (JPY), and the gradual remitting and selling of cryptocurrencies between March and June of this year.

Before the launch of its new services today, as with other services the exchange has reintroduced, Coincheck first seeks confirmation of the technical safety of the products and the entire platform from external experts.

According to the statement, “If the services are confirmed safe and become ready to be offered,” Coincheck will add more cryptocurrencies like Ethereum (ETH), NEM (XEM), Lisk (LSK), Ripple (XRP), and Factom (FCT) to its platform in the near future.