Yahoo Japan-Backed Crypto Exchange Taotao Launches This Week
The firm will also be making leverage available for interested traders, with three more cryptos added to the available options: XRP, litecoin (LTC) and bitcoin cash (BCH).
Taotao is regulated as a virtual currency exchange business under Financial Services Agency, with its website proudly displaying the registration number 00001.
That early registration comes via the exchange’s previous FSA-licensed iteration, the BitARG exchange, in which Yahoo Japan bought a 40-percent stake last March. It was reported at the time by Nikkei Asian Review that Yahoo Japan had taken the stake with the aim of developing a new exchange platform using BitARG’s technology.
Taotao’s website indicates that Yahoo Japan does indeed hold 40 percent of the entity, via its wholly owned subsidiary Z Corporation, with CMD Lab Inc. holding the remaining 60 percent.
The website also offers users “easy registration/sign in” via Yahoo accounts.