Tanya Abrosimova
Independent Analyst
The second largest search engine Yahoo! is set to launch a cryptocurrency exchange in Japan. Initially, the new venture known as Taotao will offer Bitcoin (BTC) and Ethereum (ETH) trading services only, though the range of products will be expanded to Ripple’s XRP, Bitcoin Cash (BCH) and Litecoin (LTC).
The company has already started onboarding clients. Users may sign up with the exchange to get ready for the launch beforehand and participate in a promotional campaign.
According to the information, provided on Taotao’s website, 40% of the company’s shares belongs to 100% Yahoo! subsidiary Z Corporation Ltd. CMD Lab Inc. owns 60% of shares.
Taotao has obtained the regulatory approval. Also, the company is a member of Japanese self-regulatory body Japan Virtual Currency Exchange Association (JVCEA) that guides operations of cryptocurrency exchanges.
Yahoo! first announced the plan to launch an exchange in March 2018. At that time, the company was going to purchase a major stake in the trading platform through its subsidiary. The move signals that the internet giant is ready to take a strong footing in the nascent cryptocurrency industry.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Vitalik Buterin slams controversial gambling project ZKasino following scam allegations
Ethereum founder Vitalik Buterin took to Warpcaster, a new type of social network, to condemn ZKasino, a decentralized gambling platform based on Layer 2 Ethereum protocol zkSync.
Starknet jumps 2% after notice inviting specific groups to claim STRK airdrop
Starknet Foundation addressed the groups within the STRK community that were unable to receive the token’s airdrop during the first round. The Layer 2 chain organized an airdrop event in February.
XRP price capped at $0.55 despite retail holdings nearing all-time highs
Ripple price (XRP) failed to break resistance at $0.55 early Wednesday as traders continue to digest Ripple’s recent response to the Securities and Exchange Commission’s (SEC) allegations of illegally selling XRP as a security.
Binance founder Changpeng Zhao could face three-year jail time
US prosecutors are requesting Binance founder and former CEO Changpeng Zhao (CZ) to serve a three-year jail time, according to a Reuters report published Wednesday.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?