Yahoo-Backed Crypto Exchange To Open This Week

Yahoo-Backed Crypto Exchange To Open This Week

A Japanese cryptocurrency exchange which is backed by web-service provider Yahoo is set to open its doors for trading later this week.

Taotao, as the project is known, has been a year in the making but has finally reached its final stages of development and will open at the latter end of this week, with first trading set to commence on Thursday 30th May. From the outset, traders will able to conduct transactions in Bitcoin and Ether, with XRP, Litecoin and Bitcoin Cash said to join the service before long.

Taotao will come equipped with a mobile app to accompany trading on internet browsers and will also offer leverage as part of its service. It is will be regulated as a virtual currency exchange business under the Financial Service agency, which will be the first of its kind of this description, operating under registration number 00001. This has come thanks to its association

This is where Yahoo support comes in. As Yahoo had purchased a significant sum of BitARG through their Japanese branch as a means by which they could use the technology with the sole purpose of launching an exchange of their own.

Yahoo users will benefit from an easy registration that has been put in place for them especially. As such, the two are clearly very closely linked. The backing of Yahoo also provides it with extra integrity directly from its launch.

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