Chinese Crypto Exchange BTCC Heads to South Korea

BTCC, China’s first cryptocurrency exchange, has set its sights on South Korea, reportedly announcing on Tuesday that it is launching its services in the country on October 31, 2018.

Formerly known as BTC China, the cryptocurrency exchange was one of the largest in the world by trading volume.

However, following China’s crackdown on crypto trading and initial coin offerings (ICOs), the exchange was forced to close its services in the country in September last year and move to Hong Kong in January.

According to a report from the Investor, part of the Korea Herald, BTCC’s Korea operations will be headed by Lee Jae-beom. The exchange will first launch its beta services this month, with the official debut set for November.

Commenting on the launch, Lee said: “Cryptocurrency exchanges are facing a turning point due to a downturn in local exchanges while global exchanges are making a leap here. BTCC Korea will be able to present a new strategy and vision of crypto exchanges.”

BTCC also has plans to expand its footprint, the report said. It will achieve this via strategic tie-ups with local and global firms.

Recently, the company announced that it had joined forces with Defytime, a producer of anti-aging products. The partnership will facilitate Defytime adopting blockchain in healthcare products.

BTCC to Launch Wallet Service and Mining Pool in South Korea

On the South Korean version of its website, the company also states that, in addition to the exchange, it will offer a wallet service, a mining pool and a consumer payments service. The company has not yet specified which coins will be supported on the exchange.

In Hong Kong, BTCC offers a range of products for trading to a global customer base. Specifically, the exchange facilitates the trading of five cryptocurrencies against the USD – BTC, BCH, ETH, LTC, and DASH. In addition, BCH, ETH, LTC, and DASH can also be traded against BTC.

(Photo: BTCC)

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