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Chinese Exchange to Launch Platform Based Outside of the Country

• https://news.bitcoin.com, Samuel Haig

Chinese cryptocurrency exchange ViaBTC has announced its intention to launch a trading platform based outside of China. The decision to establish an overseas-based platform follows announcements that the exchange will shut down operations in mainland China on September 30th.

ViaBTC has revealed plans to launch a cryptocurrency exchange platform outside of mainland China. The company estimates that one-third of its customers are based outside of China. ViaBTC's chief executive, Yang Haipo, has expressed the company's belief that expectation that "overseas users will continue to use the ViaBTC platform."

Last week, ViaBTC issued an official statement revealing that the company would be "clos[ing]… for exchange business in mainland China on September 30th". ViaBTC is a cryptocurrency technology company that launched in 2016. Initially, the company ran a mining pool and provided cloud mining services, before launching its exchange platform during May this year after having raised 20 million CNY ($2.9 million USD approximately) from Bitmain Technologies. ViaBTC previously stated its intention to first target China's domestic cryptocurrency trading market before seeking to expand to target overseas customers.

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