Japan-based Bittrade to reopen business under Huobi flag

Posted 03 December, 2018

Bittrade, Japan's regulated crypto trading platform, has announced business shut down citing the further relaunch as a part of Huobi Global.

This September Huobi Japan Holding Ltd, the division of Huobi Global, acquired the majority stake in Bittrade, which is one of 16 officially registered and regulated crypto exchanges in Japan. For reference, Huobi closed its services in this July facing pressure from the local regulator. Specifically, the platform failed to register in light with tougher requirements of FSA.

As the Bittrade spokesperson stated, the company is not going to transfer the accounts to new service, so users will need to register new accounts and pass the verification procedure. Besides, the exchange will reportedly stop cooperating with Bitbank Corp, which used to provide trading infrastructure.

According to the released data, registration on the platform became unavailable on November 30. Deposits in both cryptos and fiats will be no longer accepted beginning from December 14. As for accounts on Bittrade, all accounts will be shut down on January 18.

As the company reported, the new trading service will be support all cryptos that were traded at Bittrade, particularly Bitcoin, Bitcoin Cash, XRP, Ethereum, Litecoin and Monacoin. New account opening is likely to be enabled on December 10, while deposits and trading launch is slated for January 8 2019.

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