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Taotao Crypto Exchange to launch this week, backed by Yahoo Japan



Taotao Crypto Exchange to launch this week, backed by Yahoo Japan
Source: Pixabay

Since a year of work, Taotao, a crypto exchange backed by Yahoo Japan will be launching soon now. The exchange announced the news via its Twitter handle and said it will go live on 30th May, Midday local time. 

As per the website, other services that would be offered is a mobile app with its online platform. At the launch, the exchange would be provide trading in Bitcoin and Ether. 

Interested traders also have an option of leverage trading, with an additional 3 more digital currencies like XRP, LTC, and BCH with the already available options. 

The exchange would be regulated as a virtual currency exchange by the Financial Service Agency and the registration number of the website is 00001.

With the exchanges FSA- licensed iteration the early registration could take place. Yahoo Japan bought a 40 % stake in March and it was reported that Yahoo Japan had bought the stake and aimed at a new exchange platform by making use of the technology by BitARG. 

The Taotao exchanges point out to the fact that Yahoo Japan does own a 40% stake of the entity through the wholly owned subsidiary Z Corporation with CMD Lab Inc holding the other 60% of the stake.

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.