November 22, 2024

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[THE INVESTOR] BTCC, China’s first cryptocurrency exchange, formerly known as BTC China, is launching services in Korea on Oct. 31. 

BTCC, founded in 2011, was one of the largest exchanges in the world by trading volume before the Chinese government’s crackdown on cryptocurrency trading and initial coin offerings. It closed its Chinese operations in September last year and relaunched services in Hong Kong in January. 

Its Korean office will be helmed by Lee Jae-beom, with the beta service starting in October. It will make its official debut in November. 

“Cryptocurrency exchanges are facing a turning point due to a downturn in local exchanges while global exchanges are making a leap here,” said Lee. “BTCC Korea will be able to present a new strategy and vision of crypto exchanges.”

BTCC said it will expand its footprint through strategic tie-ups with local and global firms. It recently formed a partnership with Defytime, which produces anti-aging products, for adopting blockchain in health care products.

By Ahn Sung-mi (sahn@heraldcorp.com)