Last April, Yahoo Japan announced its intentions to build and launch its own crypto exchange, and that day has finally arrived. TaoTao is set to go live today and Yahoo Japan owns a major stake in the company. It is set to launch at midday Japanese time and will offer Bitcoin and Ethereum trading pairs to begin with.
Traders will be able to take part in crypto trading through the website platform and a mobile app – keeping traders connected on the go. Crypto trading in Japan is becoming very popular, as Japanese regulations are working hard to ensure that it remains a safe market for traders to operate within.
Leverage Trading Available
Leverage trading is all the rage at the moment, and TaoTao is planning to launch with leverage trading immediately available. TaoTao will permit leverage trading of BTC, ETH, XRP, LTC, and BCH, with more cryptos planning to be added in the near future. The move comes after Liquid Exchange announced 100:1 leverage trading on a range of cryptocurrencies and Binance updated its API to permit leverage trading. Leverage trading can be a very risky game, especially if traders make the wrong calls. However, if markets go the right way, traders can make a small fortune without staking large sums.
License Number 00001
TaoTao proudly displays the virtual currency exchange business registration number 00001 on its website. This might leave many of you wondering how on Earth a new crypto exchange could possibly acquire the number 00001, but the reason lies in the exchange’s roots. Back in 2018, Yahoo Japan bought a 40% stake in BitARG exchange, which had the registration number 00001. TaoTao is simply a revamped and upgraded version of the BitARG exchange – allowing it to keep the same registration number.
Always Improving Regulations
TaoTao is one of the first exchanges to launch under the brand-new iterations of the Japanese crypto regulations. The amendments to the existing regulations are designed to make the crypto trading scene safer for investors, while remaining easy for businesses to apply. As soon as the amendments were announced, the Japanese Financial Services Authority was inundated with requests for regulations, hinting that certain exchanges might not pass under the new rules.
Mark today in your calendar, for it’s Yahoo’s first foray into the crypto world. Users will be able to sign up for an account quickly and easily using their Yahoo accounts – only making the platform that much more appealing. Happy launch day TaoTao, we’re excited to see what you have in store for us.