Coinfomania: Where blockchain and cryptos live.

Yahoo! Japan Backed Crypto Exchange “TaoTao” Launches in 3 Days

TaoTao, a new cryptocurrency exchange partly owned by Yahoo! Japan confirmed in an announcement earlier today that it will start providing its services to users in three days.

Upon commencing business on May 30, TaoTao would allow users to trade the top cryptocurrencies Bitcoin (BTC) and Ether (ETH). It will also provide margin trading support for the duo as well as altcoins, Litecoin (LTC), Ripple (XRP) and Bitcoin Cash (BCH).

Yahoo! Japan Makes Crypto Debut via TaoTao

TaoTao’s impending launch brings an end to almost a year long wait for the exchange to launch, with Yahoo! Japan purchasing a reported 40% of its equity for 2 billion Japanese yen ($18.2 million) back in April 2018 when the exchange was still called BitARG.

Such a significant investment in the middle of a crypto market breakdown in Q1 2018, no doubt strengthened convictions that the industry was not a fad. Now launching in the middle of a bull market means Yahoo! Japan is likely to get good returns on that investment straight out the door.

Meanwhile, in another update regarding a crypto trading venue likely to debut soon, we revealed that Intercontinental Exchange (ICE) backed startup, Bakkt targets July for user-acceptance testing. Unlike TaoTao, though, Bakkt is set to offer users the option to trade in Bitcoin Futures Contracts.

Affiliate: Get a Ledger Nano X device for $119 so hackers won't steal your crypto.

Follow us on Twitter, Facebook, and Telegram to receive timely updates. Subscribe to our weekly Newsletter.

Comments (No)

Leave a Reply