Hong Kong-Based BTCC Set Launch Cryptocurrency Exchange in South Korea
Hong Kong-Based BTCC Set for Korea Launch
Cryptocurrency exchange, BTCC, is set to kick-off trading services in South Korea.
Founded in 2011, BTCC was one of the largest cryptocurrency exchanges in the world by trading volume before the Chinese government cracked down on cryptocurrencies and initial coin offerings (ICOs) in September last year.
BTCC, which presently has headquarters in Hong Kong and formerly known as BTC China, will also offer a wallet service, a mining pool, and a consumer payments service, according to its Korean website.
According to the BTCC company, their services in South Korea will span a trading platform, wallet service, mining pool, and a service to enable consumer payments:
It said it is establishing an on/offline payment system using cryptocurrency… and is expanding services for real-life use.
BTCC said it will expand its footprint through strategic tie-ups with local and global firms.
The new BTCC exchange offers the trading of five cryptocurrencies against the USD — BTC, BCH, ETH, LTC, and DASH. In addition, the latter four cryptocurrencies can be traded against BTC. The BTCC Korea exchange, however, has not announced which coins will be supported.
But crypto exchanges in South Korea have also drawn considerable scrutiny from domestic watchdogs, notably intensified in the wake of high-profile hacks and fraud allegations.
Another major cryptocurrency exchange that left China and entered the South Korean market following the Chinese government’s crackdown is Huobi. The exchange launched its Korean operations in March, offering the trading of over 100 coins in over 200 markets, according to its website.