Taotao, a subsidiary of Yahoo! Japan will open up shop in May to start trading a limited range of cryptocurrencies. At the start, Bitcoin and Ethereum will trade with margin positions available in three additional cryptocurrencies: Litecoin (LTC), Bitcoin Cash (BCH) and Ripple (XRP). Sign-ups are already underway.
Yahoo! Japan acquired a major stake in the exchange through its subsidiary, YJFX. The purchase had cost around $19 million.
Earlier this month Japan has introduced new crypto regulations for margin trading. This is Yahoos! first, foray into the crypto world. I am sure many more are on the horizon. This was all made possible by the regulations that were just passed in Japan just a couple weeks ago. I expect a lot more exchanges and new services to start popping up in Japan since we have “proper” regulations.
UPDATE May 28th:
To Follow up on this article we finally got a data that Taotao will launch. May 30th 2019. Taotao, which is 40% owned by internet giant Yahoo! Japan’s YJFX, will initially offer trading in bitcoin (BTC) and ether (ETH).
Margin trading will also be available in litecoin (LTC), XRP and bitcoin cash (BCH) in addition to BTC and ETH.