Taotao, a Yahoo and Japanese Cryptocurrency Exchange is All Set to Launch on May 30

Taotao, a Japanese cryptocurrency exchange platform, will start trading on the 30th of May. The company made an announcement on Twitter about the same. The internet giant, Yahoo owns a share of 40 percent in this venture. This platform will offer only Bitcoin (BTC) and Etherum (ETH) trading at starting and gradually increases its support for other coins too.

Other cryptocurrencies like Ripple (XRP), LiteCoin (LTC) and Bitcoin Cash (BCH) can also do the marginal trading on the platform. The company has been longing for this launch for a year. Yahoo has agreed to buy a 40% share of this platform.

According to the circulating rumors, Yahoo paid 2 billion yen for this project. At first, Taotao has planned to debut in the market by the middle of May, but the company suddenly postponed its debut without revealing their intentions behind it.

The increase in the trading market of bitcoin has surged various trading platforms revenue. So many Japanese platforms have got a threefold increase in the number of registered users.

While the trading of cryptocurrencies like Bitcoin is on rage, the regulators are more concerned about the hackers’ .The previous year a lot of loss has been occurred due to the hackers. Coincheck lost nearly half-billion dollars for the hackers. Binance, a trading platform that faced huge losses, has hinted that they will launch the margin trading on their platform.

The Japan Financial Agency is in the process of reviewing all the exchanges in order to identify the money laundering.

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