DMM, a major entertainment conglomerate in Japan, which also operates a widely utilized e-commerce platform used by more than 27 million active members, will launch a cryptocurrency exchange this month.
Seven Cryptocurrencies, Accepting Applications on January 11
DMM Bitcoin, the cryptocurrency exchange of the entertainment giant, will begin accepting applications from local traders and investors as early as January 11, after the exchange officially launches on January 10.
Given that DMM Bitcoin is a financial institution regulated by Japan’s Financial Service Agency (FSA), it is required to implement strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies and systems. As such, similar to other exchanges in the Japanese cryptocurrency market, DMM Bitcoin will likely carry out a rigorous verification process for traders, especially for large-scale and high profile individual investors.
The official statement released by DMM obtained by Bitcoin.com read:
“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. There are 7 virtual currencies that can be traded, 3 currency pairs for spot trading and 14 currency pairs for leveraged transactions