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'DMM' To Begin Crypto Trades
The Japanese Forex trading giant 'DMM' to begin Crypto trades in the month of January, 2018.!
DMM.com is expected to launch its very own Cryptocurrencies trading platform, called DMM Bitcoin, starting in January. It is said that DMM Bitcoin will start with seven Cryptocurrencies. The count is likely to increase in the future.
The seven cryptocurrencies that will be supported initially are namely–Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin & Nem. The various markets on the platform would be available against 'Bitcoin', 'Ethereum' & 'Japanese Yen'.
“DMM Bitcoin will launch a new service site for virtual currency trading on January 10, 2018, and we plan to start accepting account opening applications on January 11.”
DMM already has a mining farm, which was established in September 2017, with the aim of attaining one of the top 10 position among the cryptocurrency mining firms.
GMO a domestic competitor to DMM, earlier in the year, had announced of investing $3 Million in cryptocurrency mining business.
The DMM group is an online services firm, which was established in 1999, in Tokyo. Their products and services range from eCommerce to rental services. One of its biggest revenue generator is its Forex Exchange division, which is one among the largest, in terms of trade volumes.
With cryptocurrency going into mainstream, the coming year appears to be huge for the overall health of the cryptocurrency industry!
And Japan is likely to be the flag bearer for the industry, empowered by the regulators, who have already embraced and shown a green signal to crypto in the country.