BTCC Takes Aim At Bitfinex With US Dollar Bitcoin Trading
“It is both an opportunity and liability.” At least that is how CEO of BTCC, Bobby Lee defines his association of Shanghai based bitcoin exchange startup association with its domestic market. Previously known as BTC China, BTCC markets themself as the “world’s lengthiest-running bitcoin exchange”, but it is now taking approaches to increase its customer base globally.
It proclaimed today that it is launching a latest service named USD exchange of BTCC, one that claims a new user interface and that is functioned by a separate legal entity. Run out of nation Hong Kong, the US dollar BTC trading support will counterpart Chinese yuan trading, and Lee told support for additional currencies is possible to follow. Lee told Coin Desk:
“The USD exchange is our initial solid step to demonstrate the world we are about to be a global company.”
Particularly, the offering will not still be available to US based customers, as BTCC has still to obtain approval for a Bit License. (Lee supposed the start-up had been applied, though it is quite far from alone in waiting to present services in the state of US).
But Lee also realises a strategic introductory in the market provided the opening of Bitfinex, the Hong Kong-founded bitcoin exchange that this August month lost about 120,000 bitcoin (then value higher than dollar 60m) in a great-profile hack.
“We are working behind to go up against Bitfinex,” Lee told. “I contemplate about their thin volume.”
In discussion, Lee was quite open for thinking that BTCC could exceed the exchange, which has long held a request with traders provided its system of margin trading. In this matter, Lee told that BTCC is discovering whether to enhance margin trading, and that it is taking subsequent steps to court previously active bitcoin exchange users.
BTCC supposed it will use a referral program which is link-based, fix api and maker-taker model in order to attract customers. Additionally, it will provide faster deposits as of integration with its current mining pool.