Japanese Bitcoin Exchange BitTrade Will Be Relaunched As A Part Of Huobi
Cryptocurrency exchange BitTrade is shutting down its trading platform to relaunch as part of the Huobi Group.
This step was taken after Huobi Japan Holding Ltd, a subsidiary of the Huobi Group, had announced the purchase of a controlling stake in BitTrade, one of the sixteen officially regulated Japanese exchanges. In June this year, Huobi itself suspended work in Japan, as it was not registered in accordance with the requirements of regulators.
It is also reported that BitTrade stops cooperation with the former supplier of trading infrastructure Bitbank Corp.
According to the exchange, it will not transfer clients’ assets. They will need to re-create accounts on the platform and undergo verification.
Bittrade closed registration of new accounts on November 30. Deposits in cryptocurrencies and fiat will no longer be accepted starting from December 14, and transactions will become unavailable on December 27. Old accounts will be closed on January 18.
The new platform will be available at huobi.co.jp and will support all crypto-currencies that are presented at the moment on Bittrade: BTC, Bitcoin Cash, XRP, Monacoin, Litecoin, and Ethereum. The new platform is expected to start accepting registrations on December 10. It plans to start accepting deposits and begin trading on January 8.
Recall that in November, Huobi Global announced the beta testing of a platform for trading cryptocurrency derivatives. In addition, the company has become one of the investors of BHEX, which will provide trading, custodial and clearing services with cryptocurrency assets.