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Yahoo! Japan-Backed Cryptocurrency Exchange, Taotao Launches In May

TaoTao, one of the biggest cryptocurrency exchanges in Japan would be launching its trading services by May after a series of rebranding steps.

The Takeover

Taotao was formerly BitARG exchange and was acquired by Yahoo! Japan early last year after the company invested in a minority stake of 40per cent of the company through its subsidiary YJFX, a forex broker exchange which had completely bought some time earlier.

Yahoo! Japan, originally a joint venture of the mega-giant company Yahoo!, had taken an interest in the cryptocurrency ecosystem, and promptly moved swiftly to invest in a fast-growing industry. Following news of the 40 per cent acquisition by Yahoo! Japan, BitARG exchange had denied the news and claimed the company was ‘still exploring possibilities.’ The news would, however, come out to be entirely true as Yahoo! Japan takes the initiative to seize profit in one of the biggest hubs for cryptocurrency in the world. Last year alone, cryptocurrency trades in Japanese yen dominated all other market pairings as Japanese and South Koreans as well continue to define the influential sphere of the crypto space.

Launch Plans

The company, now TaoTao exchange, would begin its new ‘rebranded’ services by May and would be launching support for Bitcoin (BTC) and Ethereum (ETH) first before any other trade pairs. It would also be integrating margin positions for three other cryptocurrencies: Bitcoin Cash (BCH), Ripple’s XRP, and Litecoin (LTC). 

Prior to the launch of its new trading services, the exchange has announced it would be engaging its users and more potential customers in an elaborate pre-launch campaign that would include promotional giveaways and winnable gifts. Potential customers would be rewarded for signing up accounts during the pre-launch campaign as the Taotao starts the on boarding process for new clients.

The exchange has revealed that it would be awarding 1,000 yen to five hundred random future clients based on their respective trading activities, as part of the platform’s promotional campaign to attract customers.

Tapping into the Crypto Industry

Japan’s Nikkei Asian Review, last year March, had talked up Yahoo! Japan’s decision to buy one of the best performing crypto exchanges in the country, attributing the purchase to the company’s new found objective of dominating the crypto business in the country.

Yahoo! Japan is a joint venture between Altaba, the U.S. investment company that was established after Verizon’s ownership of the American internet company Yahoo, and the Japanese conglomerate SoftBank.

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