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Crypto exchange BTCC to debut in South Korea; partners with blockchain AR startup Scanetchain

Tue, 16 Oct 2018, 10:27 am UTC

BTCC, which was once one of the largest cryptocurrency exchanges in the world by trading volume, is going to launch its operations in South Korea next month.

BTCC launched China’s first bitcoin exchange back in 2011. However, in the wake of regulatory changes in China, including the ban on initial coin offering (ICO)-related activities, it stopped its operations in September 2017. In January 2018, BTCC moved to Hong Kong and London and was acquired by Hong Kong Blockchain Investment Fund.

BTCC is going to launch BTCC KOREA in beta on October 31, ahead of its official launch scheduled for November.

The launch event will be held at the Hotel Shilla on November 15 where BTCC Korea CEO Lee Jae-bum, will present “Change your standard” and share their vision on a new direction for exchanges.

“With the recent contraction local exchanges and the leap forward of the global exchange, the cryptocurrency exchange will have a new turning point,” Lee said. "BTCC KOREA will be able to present a new strategy and vision for cryptocurrency exchanges."

Strategic Alliances

Lee noted that the crypto market has been declining due to bubble and various uncertainties and suspicions. He said that in order to address these issues, BTCC needs to find a blockchain-focused company and help “by making the listing process easier.”

On these lines, BTCC KOREA is seeking to form strategic alliances with proven blockchain services and token offerings. The first among these is the partnership with Scanetchain, the first commercialized augmented reality (AR) blockchain platform.

Scanetchain is an AR Dapp based on NEM platform developed with the objective of commercialization of blockchain. It uses AR technology to digitally identify all products, brands, and images both online and offline. The startup already boasts of prominent partnerships with Sirin Labs, a Swiss firm working to build blockchain smartphone ‘FINNEY’, and iFashion Group, a Singaporean venture platform company focused on investing and acquiring fashion and lifestyle e-commerce ventures based in Southeast Asia.

BTCC entered into a comprehensive business partnership with Scanetchain on the 15th of this month.

“BTCC was one of the first cryptocurrency exchanges in the world, a paradigm shifter, visionary and leader in the industry. We are delighted to have an opportunity to work with BTCC and support their launch initiatives in Korea,” Scanetchain David Ham CEO said. “We believe that this partnership, we will be another catalyst in our efforts to bring everyday value to a wider set of users that can take advantage of Our first in kind AR Blockchain Platform and services, but also bring a new found trust and vision for exchanges.”

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