BitTrade cryptocurrency exchange announced the closure of its trading platform and the upcoming restart as a part of the Huobi Group, writes Bitcoin.com.
This step was taken after Huobi Japan Holding Ltd, a subsidiary of the Huobi Group, announced the purchase of a controlling stake in BitTrade, one of sixteen officially regulated Japanese exchanges, in September. Huobi itself suspended work in Japan in June of this year, because it was not registered in accordance with the requirements of regulators.
It is also reported that BitTrade ceases cooperation with the former supplier of trading infrastructure Bitbank Corp.
According to the exchange, it will not transfer the assets of customers who will need to re-open accounts on the platform and pass verification.
Bittrade stopped registering of new accounts on November 30th. Acceptance of deposits in cryptocurrency and Fiat will be stopped on December 14, and the implementation of transactions will become unavailable on December 27. Old accounts will be closed on January 18th.
The new platform will be available at huobi.co.jp and will support all cryptocurrencies currently presented on BitTrade: BTC, Bitcoin Cash, XRP, Monacoin, Ethereum and Litecoin. It is expected that registration on the new platform will be available from December 10. Taking deposits and launching trades are scheduled for January 8, 2019.