New ViaBTC Exchange to Use Bitcoin Cash as Base Trading Pair

Mining pool ViaBTC is launching a new cryptocurrency exchange based in the U.K., the company announced today.

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 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.

Future plans include support for margin trading as well as derivatives contracts tied to cryptocurrencies, according to Ouyang.

The firm is also developing an over-the-counter trading platform to "supplement the ecosystem," Ouyang said.

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