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Japanese entertainment conglomerate DMM Group, the operator of popular e-commerce site DMM.com with 27 million members, is preparing to launch a cryptocurrency exchange. 7 cryptocurrencies, 14 trading pairs, and margin trading will be offered.
“DMM Bitcoin will launch a new service site for virtual currency trading on January 10, 2018, and we plan to start accepting account opening applications on January 11.”
DMM Group previously operated a small crypto trading platform called Tokyo Bitcoin Exchange Inc. This platform was approved by the Japanese Financial Services Agency (FSA) on December 1st, 2017. It became one of the only 15 exchanges in Japan which the agency has approved so far. Tokyo Bitcoin Exchange has been renamed to DMM Bitcoin and has suspended its services.
The 7 supported cryptocurrencies are bitcoin (BTC), ether (ETH), nem (XEM), ripple (XRP), litecoin (LTC), ethereum classic (ETC), and bitcoin cash (BCH).
Trading on DMM Bitcoin is available on iOS, Android, and PC. Trading tools will also be available similar to those offered to foreign exchange (FX) trading customers on DMM FX, the company’s FX trading platform. Deposits and withdrawals are available in Japanese yen, bitcoin, and ether
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