Yahoo Japan owns a major stake in the soon to be launched cryptocurrency exchange, Taotao

Scott CookMay 28, 2019Last Updated: September 14, 2020

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Taotao announced in a tweet that its crypto exchange platform will be live on May 30. The Taotao exchange is owned by Yahoo Japan.

https://twitter.com/taotao_ex/status/1132842984158838794

TaoTao would allow users to trade Bitcoin (BTC) and Ethereum (ETH) and margin-trading for Litecoin (LTC), Ripple (XRP) and Bitcoin Cash (BCH) apart from the above two.

Japan’s YJFX, will be providing the smartphone and desktop versions for the same. Taotao, with its website proudly displaying the 00001-registration number, is regulated as a virtual currency exchange under the Financial Services Agency.

The arrival of Taotao is a step towards a more targeted management of domestic cryptocurrency margin trading platforms, which is being carried out by the Japan Financial Services Agency (FSA). It also takes place in the aftermath of a hack on the cryptocurrency exchange Coincheck in which more than 530 million dollars’ worth of NEM were stolen by Japan’s Financial Services Agency (FSA).

All customers who pre-registered will receive a cashback of JPY 1,000, which is between 25 March and 17 April 2019. Furthermore, from 30 May to 1 July 2019, 500 people trading a total of JPY 250,000 of virtual currency will benefit from a cashback amounting to 10,000.

With such a major Yahoo Japan investment in the middle of a crypto-market collapse in Q1 2018, the conviction that the industry is not a fad was undoubtedly strengthened. Now that you start in the midst of a bull market, Yahoo! Japan will likely get good returns directly from your investment.

Yahoo Japan has a greater presence than Google in search and mail services and provides more financial transactions than Paypal and the largest Internet provider and payment processor in the country.