Earlier this year we reported on DMM opening the mining pool, and now they plan on entering the exchange market. The announcement goes to say about 7 available virtual currencies with 14 trading pairs and margin trading. The plan is to open the platform on the next month, particularly – 11th of January 2018.
Japanese e-commerce and entertainment giant DMM has revealed the exact details of the upcoming exchange platform – DMM Bitcoin. The platform will open on January 10 and will start accepting payments on January 11. It will replace their Tokyo Bitcoin Exchange Inc., which has been approved by authorities on December 1 and whose services has been halted as of now on account of renaming and upgrades.
The 7 supported from the start virtual currencies are Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, Nem, Ripple and Litecoin. The trading pairs will consist of BTC/JPY, ETH/JPY and BTC/ETH. And 14 pairs will have leverage trading available for them.
The conceptual background is similar to DMM's up and running Foreign Exchange trading platform. Even the trading tools will be released for the same platforms – PC, Android and iOS. The withdrawals will be available in Japanese Yen, Bitcoin and Ether.
All of this furthers DMM's announced goal to enter cryproeconomy world, which is supported by their newly established virtual currency subsidiary and DMM Mining Farm, said to become one of the 10 largest mining farms in the world.