BTCC announces entry to South Korea

Oct 17, 2018 at 21:35

China’s first Bitcoin (BTC) exchange BTCC said it will roll out next month a crypto trading platform in South Korea.

Formerly BTC China, the Hong Kong-based firm said it will introduce the beta-version for the platform in November, to mark its official entry into the industry.

This was according to a report by a local business outlet, The Investor, which noted that its uses will span to being a trading platform, wallet service, mining pool, and a service to enable consumer payments

“BTCC is establishing an on/offline payment system using cryptocurrency… [and is] is expanding services for real-life use,” read the firm’s website.

The Korean government announced its set November deadline in deciding whether to lift the blanket ban on initial coin offerings.

But the government has indirectly signified its worry over cryptocurrencies’ pull toward hackers and scammers.

Still, the company’s revelation possibly hints that BTCC is confident the Asian country will rule in favor of the cryptocurrency and blockchain industry.

BTC China, founded in 2011, used to be in top three crypto exchanges in China prior to the crackdown, particular the country’s ban on ICOs, that prompted its closure in September 2017.

But the company came back to the scene when, at the start of the year, it was acquired by a Hong Kong-based blockchain investment fund.

This gave way to the resurrection of BTC China, now rebranded to the BTCC that was launched in July.