Cryptocurrency Exchange BTCC Expanding Into South Korea

Announcements, News | October 17, 2018 By:

Hong Kong-based cryptocurrency exchange BTCC will be launching its operations in South Korea next month.

Founded in 2011, BTCC was the world’s oldest bitcoin exchange until it shuttered its platform in September 2017 under pressure from Chinese authorities. In January of this year, the exchange moved to Hong Kong and London and was acquired by Hong Kong Blockchain Investment Fund.

The company announced that the beta service of BTCC Korea will start on October 31 and the exchange “will make its official debut in November.” In addition to a crypto exchange, BTCC Korea will offer a wallet service, a mining pool, and a consumer payments service.

“With the recent contraction local exchanges and the leap forward of the global exchange, the cryptocurrency exchange will have a new turning point,” said BTCC Korea CEO Lee Jae-bum. “BTCC KOREA will be able to present a new strategy and vision for cryptocurrency exchanges.”

Lee added that BTCC will expand its footprint through strategic tie-ups with local and global blockchain firms. The first among these is the partnership with augmented reality (AR) blockchain platform Scanetchain, the first commercial decentralized application (DApp) developed through the NEM blockchain. Scanetchain aims to disrupt the commerce industry by ensuring interoperability of advertising, shopping, contents, and social networking services using AR technology.

“BTCC was one of the first cryptocurrency exchanges in the world, a paradigm shifter, visionary and leader in the industry,” said Scanetchain David Ham CEO. “We are delighted to have an opportunity to work with BTCC and support their launch initiatives in Korea. We believe that this partnership, we will be another catalyst in our efforts to bring everyday value to a wider set of users that can take advantage of our first in kind AR Blockchain Platform and services, but also bring a new found trust and vision for exchanges.”