One of bitcoin’s biggest mining pools, ViaBTC announced its launching of a new cryptocurrency exchange platform with a focus on Bitcoin Cash based in the U.K.
The exchange’s base cryptocurrency will be bitcoin cash, which forked away from the main bitcoin blockchain earlier this year. CoinEx, which was incorporated on Dec. 4 according to public filings, will offer trading pairs for bitcoin, litecoin and ethereum, among others, ViaBTC said in statements.
The global exchange will provide only BCH-priced trading pairs for Zcash, Dash, Litecoin, as well as bitcoin and ethereum (BTC/BCH, ETH/BCH, LTC/BCH, ZEC/BCH, DASH/BCH to start).
It will also introduce margin trading and futures trading with an OTC trading platform under development to supplement the ecosystem.
The China-based mining pool previously ran an exchange in the world’s most populous nation, shutting it down after regulators moved to prohibit cryptocurrency trading in the country. The mining pool was an early supporter of bitcoin cash, and its earlier exchange offered services around the cryptocurrency.
Now, the company is setting up shop in the U.K., having teased the launch in late November on social media.
“The reason we chose [bitcoin cash] over [bitcoin] is that it has much faster transactions with low fees and better performance in terms of usability,” Sara Ouyang, ViaBTC’s chief operating officer, said in a statement.
Since its launch on August 1st 2017 through a chain-split fork, Bitcoin Cash has risen from virtually nothing to a current price of around $1,400 with a market cap at $25 billion.