BTCC announced the relaunch of its cryptocurrency trading platform today. Also, the company, which has been recognized as the oldest in the industry and one of the three largest in China until last year, will also offer its token in the future. The company is facing the obstacles posed by the Chinese authorities since September last year.
Today’s announcement indicates that the renewed cryptocurrency trading platform offers support for Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Bitcoin Cash (BCH), which can be exchanged for US Dollars. It will also be possible to make exchanges between pairs of cryptocurrencies.
However, Aaron Choi, BTCC cryptocurrency exchange platform’s VP, estimates that the offer of cryptos will be limited to the top 10 of the cryptocurrencies market.
The relaunch of the BTCC cryptocurrency trading platform has been presented with a series of benefits to encourage the use of the platform. For example, exemption from paying fees for the first three months. Also, BTCC will offer a type of reward in points that can be exchanged for the BTCC token that could be launched in the coming months, although no specific schedule has been established for its release date.
BTCC to relaunch its cryptocurrency trading platform, plus the new BTCC token, after suspending crypto exchange operations in 2017
During September 2017, BTCC had to suspend its operations due to the cryptocurrency regulatory measures adopted by the Chinese government, which interceded with the demands of the People’s Bank of China, restricting the commercialization of crypto coins in the cryptocurrency exchange platform across China.
The company restarted operations in Hong Kong and London, as well as Huobi and OKCoin who also had to move their operations centers to other countries, but unlike these other exchange platforms, BTCC failed to position themselves firmly in the market.
In January 2018, BTCC operations were transferred to a Hong Kong investment fund focused on technology and blockchain, which since then has taken control of the mining pool, its Mobi Wallet and the BTCC cryptocurrency trading platform with the aim of repositioning it internationally.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.