TaoTao customers will be able to trade BTC and ETH upon the new crypto exchange's launch this week, along with XRP, LTC, and BCH for margin trading.
TaoTao, a new Japanese cryptocurrency exchange backed by Yahoo! Japan, will launch on May 30, according to its official Twitter post last Sunday.
The new trading platform will push through with its scheduled launch at midday in Japan local time. Its supposed launch in mid-May was delayed for undisclosed reasons.
— TAOTAO (@taotao_ex) May 27, 2019
Those who have pre-registered on the TaoTao website can immediately start trading, provided that they have received the account opening confirmation message. Everyone who joined the pre-registration campaign received a ¥1,000 gift.
TaoTao, which will be available in both desktop and mobile versions, will initially support Bitcoin (BTC) and Ethereum (ETH) trading upon launch. But the platform has announced that margin trading will also be available in three other cryptocurrencies: Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).
Interested traders can open an account by registering using their Yahoo! accounts. As disclosed on the TaoTao website, Yahoo! Japan owns 40 percent of the firm through Z Corporation Ltd., a wholly owned subsidiary of Yahoo! Inc.
The launch of the cryptocurrency exchange TaoTao in Japan could not have been at the perfect time. Based on reports, the Asian powerhouse has registered a 200-percent increase in terms of new account openings in various Japanese cryptocurrency exchanges since March 2019.
TaoTao’s opening also coincides with a strong BTC performance, with its price reaching new all-time highs for this year and expected to reach $10,000.