Cryptocurrency company BTCC set to introductory a fresh trading platform within South Korea
Hong Kong's BTCC, Rebranded From BTC China, Set to Reboot
Crypto exchange fiends, get ready! BTCC, formerly known as BTC China, is gearing up to re-enter the market with services in South Korea.
BTCC is planning to launch beta-trading services later this month, with the official launch happening in November. The revamped firm, led by Lee Ja-beom, aims to offer trading, mining pool, wallet service, and a customer payment platform in the South Korean market.
"BTCC is here to shake up the crypto exchange landscape," said Lee Ja-beom, head of BTCC's South Korean office.
The Long Awaited Return
Launched in 2011, BTCC was among the top three crypto trading firms in China. However, following intense pressure from the Chinese central bank during a crypto exchange purge, it had to shutter its doors in 2017.
In January of this year, the company revealed in a blog post that it had been acquired by a Hong Kong-based firm. Founder Bobby Lee expressed his excitement and optimism about the future direction of the firm.
"I can't wait to see what the future holds for BTCC with these new resources," expressed Lee.
The Road Ahead
BTCC's road to growth was an arduous one, given the ever-changing regulatory landscape in China that prohibited crypto trading. Post-relocation to Hong Kong, the rebranded BTCC has set its sights on launching its mining pool, and mobi wallet apps, before venturing into crypto trading.
Government officials are also reportedly considering amending South Korea's ban on Initial Coin Offerings (ICOs), which has been in effect since November 2017. Such a move could signal a boom for the crypto market.
But why did it take so long for BTCC to make its return?
The Chinese government's strict control and ban on crypto trading made it challenging for BTCC to operate or relaunch domestically. The search for a more favorable and compliant regulatory jurisdiction further delayed its return.
Regulatory hurdles and the need to comply with international standards meant relaunching BTCC took years. The good news is, with the right footing and new opportunities emerging, BTCC is set to make its mark again in the ever-evolving crypto world.
- BTCC, rebranded from BTC China, is scheduled to offer trading, mining pool, wallet service, and a customer payment platform in South Korea, marking its return to the crypto exchange industry.
- With the official launch of BTCC's trading services set for November, the company aims to make a significant impact on the crypto exchange landscape, according to Lee Ja-beom, head of BTCC's South Korean office.
- Post-relocation to Hong Kong, BTCC has ambitions to launch its mining pool and mobi wallet apps before diving into crypto trading, to ensure compliance with local and international regulations.
- Government officials in South Korea are considering amending the country's ban on Initial Coin Offerings (ICOs), which could offer a promising outlook for the crypto market, including the return of BTCC.
