Z Corporation, a subsidiary of Yahoo! Japan, is reportedly launching its cryptocurrency exchange Taotao, offering trading services of a limited amount of cryptos in May.

The internet giant has obtained regulatory approval to launch Taotao exchange on the Japanese market. Initially, users of Taotao can trade Bitcoin (BTC) and Ethereum (ETH) on the exchange, alongside with margin positions in three other cryptocurrencies: Litecoin (LTC), Bitcoin Cash (BCH) and Ripple (XRP). Taotao is reportedly opening a promotion giveaway event, aimed at raising awareness and attracting prospective customers to create accounts for trading.

Yahoo! Japan has been forecasted to launch a cryptocurrency exchange since last year. In April 2018, the firm has acquired 40% of BitARG Exchange Tokyo through its subsidiary, YJF. The total acquisition cost, as suggested, was up to $19 million.

“The purchase of BitARG shares will be made through Tokyo’s YJFX, a wholly owned Yahoo subsidiary that operates foreign exchange transaction services,” local media Nikkei Asian Review reported

As reported earlier by The Crypto Sight on March 21, several new bills have been introduced by the financial body of the Japanese government to provide better regulations for the country’s crypto margin trading.