Japanese conglomerate DMM Group, operator of the popular online entertainment platform DMM.com with 27 million users, is preparing to launch cryptocurrency exchange. The site will offer a 7 cryptocurrency trading 14 pairs and margin trading. The launch of the Bitcoin exchange’s DMM is scheduled for January 11, 2018.
«DMM Bitcoin will start work on 10 January 2018, and we plan to open user registration on 11 January.»
DMM Group previously operated a small platform to trade cryptocurrency, called Tokyo Bitcoin Exchange Inc. This site has been approved
The financial services Agency of Japan (FSA) on 1 December. She became one of the 15 exchanges in Japan, which to date has received the approval of the Agency. Tokyo Bitcoin Exchange was renamed the DMM Bitcoin and suspended its work. DMM Group notes:
«The exchange will be available for trading cryptocurrencies 7, 3 currency pair, for sale for cash, and 14 pairs for transactions with a credit shoulder.»
Seven of the supported cryptocurrencies include bitcoin (BTC), ether (ETH), Nem (XEM), Ripple (XRP), litecoin (LTC), Ethereum Classic (ETC) and Cash (BCH). Selling for cash will be available for trading pairs BTC/JPY, ETH/JPY and ETH/BTC. Trade with leverage up to 5x will be available for 14 pairs. Transaction fees are not charged, however, the payment of the shoulder is 0,04% per day.
For comparison, the competing exchange GMO Coin currently supports 5 cryptocurrencies — BTC, ETH, LTC, XRP and BCH. It offers leverage up to 5x, 10x and 25x, pay-per shoulder 0.05% per day.
Trade Bitcoin on the DMM will be available on iOS, Android and PC. The exchange will be offered shopping tools similar to those available to customers of DMM FX trading platform for Forex belonging to the group. Deposits and withdrawals will be available in the Japanese yen, bitcoin and ether.
In September DMM Group created a subsidiary cryptocurrency company, and also announced plans to become «one of the 10 largest mining pools in the world» next year.