The word on the media is that a Binance and TaoTao partnership is in order. Per the reports, Binance is in discussion with Yahoo! Japan – now the Z Corporation Inc – for its TaoTao Inc, a subsidiary of the corporation.
TaoTao is a cryptocurrency asset based exchange of the Z Corporation, and the move comes as an effort for expansion in the Japanese market.
Once the nitty-gritty of the said strategic partnership is finalized, Binance is believed to provide technological and operational support to the Z Corporation exchange TaoTao. However, the partnership is believed to be specifically for the Japanese market.
Binance and TaoTao partnership background
The Binance and TaoTao partnership move by Yahoo! Japan or the Z Corporation comes shortly after the giant exchange announced the closure of services in Japan. Binance has already set all the necessary actions in motion for the closure of services in the region that includes trading from the country.
On the other hand, TaoTao initially established as BitARF Exchange in 2017, it was later taken over by Yahoo! Japan in 2018, while a revamp of the previous exchange was carried out last year in February 2019. The exchange is already registered with the Japanese Financial Services Agency in the crypto exchange operator category.
The partnership – if it comes through – would allow TaoTao to take over the Japanese cryptocurrency market by a storm with one of the largest crypto exchanges backing the services.
Featured Image by Cryptopolitan.com