China-based bitcoin trading platform BTCC (BTC China) expresses plans to launch crypto trading business in South Korea.
According to the Investor, BTCC headquartered in Hong Kong is going to start beta of South Korean trading business till the end of October. At the same time, the official start-up of South Korea's platform is slated for the next month.
As the company stated on the BTCC Korea website, the new business branch will feature not only trading services but will also offer wallet and mining pool.
"BTCC is establishing an on / offline payment system using cryptocurrency,” as the statement reads.
For reference, BTC China created in 2011 get into the top-3 major crypto trading platforms in China. However, later Beijing and local authorities banned crypto activities in the country back in September 2017. As a result, the exchange faced hard times and was acquired by Hong Kong-based fund in January – trading was stopped, and it was focused on the development of the international mining pool and mobile wallet Mobi. The trading was resumed only this summer in Hong Kong.
Meanwhile, Seoul keeps developing the legal framework for the crypto market. Local officials are believed to make an ICO-related decision next month. Notably, ICO activities were banned in the country following China.