Japanese E-Commerce Giant Launches 7-Asset Cryptocurrency Exchange

January 12, 2018
233 Views

Japanese e-commerce holding DMM Group launches a cryptocurrency exchange

Japanese e-commerce conglomerate DMM Group has launched a homegrown cryptocurrency exchange called DMM Bitcoin in a second market venture.

Following the release of its mining operation in September 2017, DMM formally opened its exchange orderbook Thursday Jan. 11, offering seven cryptocurrencies and 14 trading pairs.

DMM Bitcoin has a potential customer base of 27 mln existing DMM clients in addition to outside interest. Currently on offer are Bitcoin, Ethereum, Litecoin, NEM, Ripple, Ethereum Classic and Bitcoin Cash.

The company’s announcement of the exchange promises promotional benefits to early sign-ups, including a 1,000 yen account credit and select fee-free operations.

The project had been in the pipeline for several months and comes as Japan continues to cement its status as the world’s new regulated cryptocurrency trading hub.

Commenting on the launch, English-language podcast Thinking Crypto forecast that it would be around a week until the exchange’s volume was reflected in prices.

Crypto in Japan

Cryptocurrency exchanges have become big business for Japan’s economy over the past six months, with the introduction of a licensing scheme that has attracted considerable interest.

Pundits are also keenly aware of the benefits Bitcoin potentially holds for consumer culture. Last month, analysts from Nomura even suggested Bitcoin was adding 0.3 percent to Japan’s GDP.

You may be interested

Coinbase Hires LinkedIn Executive as New Data Chief
Crypto News
1 views
Crypto News
1 views

Coinbase Hires LinkedIn Executive as New Data Chief

btcethereumadmin - September 18, 2018

Cryptocurrency exchange startup Coinbase has hired LinkedIn's head of analytics and data science. Michael Li, a senior LinkedIn executive who spent…

High Times Quietly Removes Crypto Payment Option From IPO Website
Bitcoin
Bitcoin

High Times Quietly Removes Crypto Payment Option From IPO Website

btcethereumadmin - September 18, 2018

Cannabis advocacy publication High Times is no longer accepting cryptocurrencies as a payment option for its ongoing initial public offering…

XRP Price Bucks Bearish Market Mood to Hit 13-Day High
Crypto News
Crypto News

XRP Price Bucks Bearish Market Mood to Hit 13-Day High

btcethereumadmin - September 18, 2018

XRP is reporting double-digit gains today, despite a generally bearish mood across the wider crypto markets. The open-source token –…

Leave a Comment

Your email address will not be published.