BTCC, formerly known as BTC China, has relaunched its crypto trading platform and revealed plans to issue its own native token, according a company announcement Monday, July 2.
The rehauled crypto exchange is now live, offering trading for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC) against the U.S. dollar, as well as crypto-to-crypto pairings.
The new site advertises a points-based system for users, who will earn points that will later be redeemable for a new, native BTCC token, whose release date remains unspecified.
For a limited promotional timespan, BTCC points will be earned through completing site registration and verification, as well as making a first deposit and trade. They will then be awarded for user referrals, and other activities.
BTCC has also announced a zero-fee trading regime that will last for the first three months after relaunch. This distinguishes BTCC’s new points system from that of rival crypto exchanges, some of whom have recently introduced a new so-called “trans-fee mining” revenue model, in which users receive 100 percent of their trading fees back in native exchange crypto tokens.
As Cointelegraph has reported, due to the popularity of trans-fee mining, both Singapore-based CoinBene and Hong Kong-based Bit-Z temporarily shot to the top of Coinmarketcap crypto exchange listings by volumes last week, although both have now been outpaced by stalwart rivals.
BTC China was founded in 2011 and was formerly one of the top three crypto exchanges in China, before a domestic regulatory ban on ICOs and rumors of an imminent crypto exchange crackdown prompted it to announce its closure in Sep. 2017.
This year, BTCC has been focusing on two further ventures alongside its trading platform - these being its international BTCC Mining Pool and Mobi wallet software. In January, the company was acquired by a Hong Kong-based blockchain investment fund to facilitate its rebranding and further expansion.
By Marie Huillet